General Motors Holdings LLC Trims Holdings in SES AI Corporation (NYSE:SES)

Key Points

• General Motors Holdings LLC significantly reduced its stake in SES AI Corporation by 85.2%, selling over 16 million shares, and now holds approximately 1.6% of SES AI's total shares.
• SES AI reported earnings per share (EPS) of ($0.07) in its latest quarter, falling short of analyst estimates, with revenue also below expectations at $3.53 million.
• Various institutional investors have increased or established new positions in SES AI, with Invesco Ltd. boosting its stake by an impressive 1,537.2%.

General Motors Holdings LLC lowered its position in shares of SES AI Corporation (NYSE:SES - Free Report) by 85.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,921,950 shares of the company's stock after selling 16,802,387 shares during the quarter. SES AI makes up approximately 1.6% of General Motors Holdings LLC's holdings, making the stock its 3rd biggest holding. General Motors Holdings LLC owned approximately 0.80% of SES AI worth $1,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Brevan Howard Capital Management LP acquired a new stake in SES AI in the 4th quarter valued at about $25,000. Signaturefd LLC acquired a new stake in SES AI in the 1st quarter valued at about $26,000. CWM LLC increased its position in SES AI by 1,427.9% in the 1st quarter. CWM LLC now owns 55,462 shares of the company's stock valued at $29,000 after acquiring an additional 51,832 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in SES AI in the 4th quarter valued at about $44,000. Finally, Cresset Asset Management LLC increased its position in SES AI by 94.1% in the 4th quarter. Cresset Asset Management LLC now owns 20,288 shares of the company's stock valued at $44,000 after acquiring an additional 9,838 shares in the last quarter. Institutional investors and hedge funds own 29.78% of the company's stock.

SES AI Trading Up 8.5%

Shares of NYSE:SES traded up $0.09 during trading on Friday, hitting $1.09. 3,799,741 shares of the company's stock were exchanged, compared to its average volume of 9,380,073. SES AI Corporation has a 1-year low of $0.20 and a 1-year high of $2.53. The firm has a 50-day moving average price of $1.03 and a two-hundred day moving average price of $0.88. The firm has a market cap of $398.03 million, a P/E ratio of -3.50 and a beta of 0.42.

SES AI (NYSE:SES - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $3.53 million for the quarter, compared to the consensus estimate of $4.33 million. As a group, research analysts predict that SES AI Corporation will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $2.00 price objective on shares of SES AI in a research report on Tuesday, June 24th. Wall Street Zen cut shares of SES AI from a "hold" rating to a "sell" rating in a research report on Sunday, June 8th.

About SES AI

SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles, electric vehicle take-off and landing, and other applications. The company was founded in 2012 and is headquartered in Woburn, Massachusetts.