SES AI (NYSE:SES) Trading Up 2.7% - Here's What Happened

Shares of SES AI Corporation (NYSE:SES - Get Free Report) traded up 2.7% during mid-day trading on Tuesday . The stock traded as high as $1.04 and last traded at $0.97. 8,624,028 shares traded hands during trading, a decline of 38% from the average session volume of 13,802,893 shares. The stock had previously closed at $0.94.

Wall Street Analysts Forecast Growth

SES has been the subject of several research analyst reports. Wall Street Zen lowered SES AI from a "hold" rating to a "sell" rating in a report on Sunday, June 8th. Cantor Fitzgerald restated an "overweight" rating and issued a $2.00 price objective on shares of SES AI in a report on Tuesday, June 24th.

SES AI Trading Up 12.5%

The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $0.90. The company has a market capitalization of $445.72 million, a price-to-earnings ratio of -4.05 and a beta of 0.38.

SES AI (NYSE:SES - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. The firm had revenue of $5.79 million during the quarter, compared to the consensus estimate of $2.00 million. Equities analysts predict that SES AI Corporation will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On SES AI

Institutional investors and hedge funds have recently made changes to their positions in the company. Brevan Howard Capital Management LP bought a new stake in shares of SES AI in the fourth quarter valued at approximately $25,000. Signaturefd LLC bought a new stake in SES AI during the first quarter worth $26,000. Cibc World Markets Corp bought a new stake in SES AI during the fourth quarter worth $27,000. CWM LLC lifted its stake in SES AI by 1,427.9% during the first quarter. CWM LLC now owns 55,462 shares of the company's stock worth $29,000 after purchasing an additional 51,832 shares during the last quarter. Finally, Voya Investment Management LLC bought a new stake in SES AI during the first quarter worth $31,000. Institutional investors and hedge funds own 29.78% of the company's stock.

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.