General Motors Holdings LLC Has $1.52 Million Position 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 reduced its holdings in shares of SES AI Corporation (NYSE:SES - Free Report) by 85.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,921,950 shares of the company's stock after selling 16,802,387 shares during the period. SES AI comprises 1.6% of General Motors Holdings LLC's portfolio, making the stock its 3rd largest holding. General Motors Holdings LLC owned 0.80% of SES AI worth $1,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SES. LPL Financial LLC increased its stake in shares of SES AI by 75.3% in the fourth quarter. LPL Financial LLC now owns 57,315 shares of the company's stock worth $126,000 after purchasing an additional 24,625 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SES AI by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 7,847,316 shares of the company's stock worth $17,186,000 after purchasing an additional 608,676 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SES AI by 151.8% in the fourth quarter. JPMorgan Chase & Co. now owns 460,665 shares of the company's stock worth $1,009,000 after purchasing an additional 277,688 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SES AI by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 3,260,213 shares of the company's stock worth $7,141,000 after purchasing an additional 165,589 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of SES AI by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 76,147 shares of the company's stock worth $167,000 after purchasing an additional 16,989 shares in the last quarter. 29.78% of the stock is owned by hedge funds and other institutional investors.

SES AI Trading Up 8.5%

SES traded up $0.09 during trading on Friday, hitting $1.09. 3,799,741 shares of the company traded hands, compared to its average volume of 9,380,073. The company has a market cap of $398.04 million, a PE ratio of -3.50 and a beta of 0.42. The stock's 50-day simple moving average is $1.03 and its two-hundred day simple moving average is $0.87. SES AI Corporation has a 1 year low of $0.20 and a 1 year high of $2.53.

SES AI (NYSE:SES - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $3.53 million for the quarter, compared to analyst estimates of $4.33 million. Equities analysts expect that SES AI Corporation will post -0.23 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SES shares. Wall Street Zen cut shares of SES AI from a "hold" rating to a "sell" rating in a research note on Sunday, June 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2.00 target price on shares of SES AI in a research note on Tuesday, June 24th.

SES AI Profile

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.