SES AI (NYSE:SES) Shares Gap Down Following Insider Selling

SES AI Co. (NYSE:SES - Get Free Report)'s share price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $2.39, but opened at $2.28. SES AI shares last traded at $2.12, with a volume of 21,459,235 shares changing hands.

Specifically, CFO Jing Nealis sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. Following the sale, the chief financial officer now directly owns 1,935,322 shares in the company, valued at approximately $1,974,028.44. This represents a 7.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SES shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $1.50 price target on shares of SES AI in a report on Tuesday, September 10th. Wolfe Research initiated coverage on SES AI in a research note on Thursday, September 5th. They issued an "underperform" rating and a $1.00 target price for the company.

SES AI Trading Up 1.3 %

The stock has a market cap of $872.62 million, a PE ratio of -10.52 and a beta of 2.27. The firm has a fifty day simple moving average of $0.49 and a two-hundred day simple moving average of $0.82.

SES AI (NYSE:SES - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.04). During the same quarter in the prior year, the firm earned ($0.04) EPS. Equities analysts forecast that SES AI Co. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On SES AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in SES. Geode Capital Management LLC lifted its stake in shares of SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company's stock worth $1,980,000 after buying an additional 83,607 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SES AI by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company's stock worth $744,000 after purchasing an additional 46,778 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SES AI by 20.2% in the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company's stock worth $535,000 after buying an additional 71,794 shares during the period. Squarepoint Ops LLC raised its stake in SES AI by 1,039.9% during the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company's stock worth $309,000 after acquiring an additional 225,299 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of SES AI by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company's stock valued at $117,000 after buying an additional 122,803 shares in the last quarter. Hedge funds and other institutional investors own 29.78% of the company's stock.

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.