SES AI (NYSE:SES) Issues Earnings Results, Meets Estimates

Key Points

• SES AI met earnings expectations with a quarterly loss of $0.04 per share, but revenue of $5.07 million fell short of the $5.60 million analyst estimate. The company reported a negative net margin of 331.72%.
• Shares rose 2.1% to $0.54 during mid-day trading, though the stock remains near its one-year low of $0.49 and well below its one-year high of $3.73.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $2.70. Institutional investors own 29.78% of the company, while an insider recently sold 25,000 shares under a pre-arranged trading plan.

SES AI (NYSE:SES - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04), FiscalAI reports. The firm had revenue of $5.07 million for the quarter, compared to analyst estimates of $5.60 million. SES AI had a negative return on equity of 28.65% and a negative net margin of 331.72%.

SES AI Stock Up 2.1%

SES AI stock traded up $0.01 during mid-day trading on Tuesday, hitting $0.54. 14,417,421 shares of the company's stock traded hands, compared to its average volume of 10,564,280. SES AI has a one year low of $0.49 and a one year high of $3.73. The firm has a 50 day moving average price of $0.84 and a 200 day moving average price of $1.18. The company has a market cap of $199.07 million, a PE ratio of -2.47 and a beta of 1.01.

Insider Activity at SES AI

In related news, insider Kyle Pilkington sold 25,000 shares of SES AI stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1.20, for a total transaction of $30,000.00. Following the sale, the insider directly owned 1,023,548 shares in the company, valued at $1,228,257.60. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.80% of the company's stock.

Hedge Funds Weigh In On SES AI

Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC raised its position in shares of SES AI by 381.3% during the 4th quarter. Virtu Financial LLC now owns 159,360 shares of the company's stock worth $287,000 after buying an additional 126,248 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of SES AI by 563.9% in the fourth quarter. Invesco Ltd. now owns 6,814,389 shares of the company's stock valued at $12,266,000 after acquiring an additional 5,788,018 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of SES AI in the fourth quarter valued at approximately $220,000. Balyasny Asset Management L.P. acquired a new position in shares of SES AI during the fourth quarter valued at approximately $144,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of SES AI during the fourth quarter valued at approximately $121,000. Institutional investors and hedge funds own 29.78% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SES. Weiss Ratings restated a "sell (d-)" rating on shares of SES AI in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $1.40 target price on shares of SES AI in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded shares of SES AI from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, SES AI currently has a consensus rating of "Hold" and an average target price of $2.70.

SES AI Company 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.

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