SES AI (NYSE:SES) Trading Up 1.6% - Here's Why

Key Points

• SES AI shares rose 1.6% in mid-day trading, reaching as high as $0.83 on volume of about 22.97 million shares, well above its average daily volume.
• Analyst sentiment remains cautious: the stock currently carries an average “Hold” rating, with a consensus price target of $2.70, though recent reports included sell and hold calls.
• The company continues to post weak profitability, with its latest quarter showing a loss of $0.03 per share and negative margins, while insiders and institutional investors have both been active in the stock recently.

SES AI Corporation (NYSE:SES - Get Free Report)'s share price shot up 1.6% during mid-day trading on Wednesday . The stock traded as high as $0.83 and last traded at $0.8210. Approximately 22,967,750 shares were traded during trading, an increase of 136% from the average daily volume of 9,733,694 shares. The stock had previously closed at $0.8084.

Analyst Upgrades and Downgrades

SES has been the subject of a number of research reports. Wall Street Zen raised shares of SES AI from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $1.40 price target on shares of SES AI in a report on Monday, April 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of SES AI in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SES AI currently has an average rating of "Hold" and an average target price of $2.70.

SES AI Trading Up 1.6%

The company has a market capitalization of $301.00 million, a price-to-earnings ratio of -3.73 and a beta of 0.95. The firm's 50 day simple moving average is $1.07 and its 200-day simple moving average is $1.42.

SES AI (NYSE:SES - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $6.71 million during the quarter, compared to analyst estimates of $3.65 million. SES AI had a negative return on equity of 28.65% and a negative net margin of 331.72%. As a group, sell-side analysts forecast that SES AI Corporation will post -0.17 EPS for the current fiscal year.

Insider Transactions at SES AI

In related news, insider Kyle Pilkington sold 25,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1.20, for a total value of $30,000.00. Following the completion of the sale, the insider owned 1,023,548 shares in the company, valued at $1,228,257.60. This trade represents 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 at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.80% of the stock is owned by corporate insiders.

Institutional Trading of SES AI

Several hedge funds have recently modified their holdings of SES. SummitTX Capital L.P. purchased a new position in SES AI in the first quarter worth $33,000. Renaissance Technologies LLC boosted its position in shares of SES AI by 57.2% during the 1st quarter. Renaissance Technologies LLC now owns 4,596,252 shares of the company's stock worth $4,422,000 after purchasing an additional 1,671,610 shares in the last quarter. State of Wyoming purchased a new stake in shares of SES AI during the 1st quarter worth $26,000. Kestra Advisory Services LLC grew its stake in shares of SES AI by 51.3% during the 1st quarter. Kestra Advisory Services LLC now owns 396,185 shares of the company's stock worth $381,000 after purchasing an additional 134,300 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of SES AI during the 1st quarter worth $526,000. 29.78% of the stock is owned by institutional investors and hedge funds.

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.

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