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

SES AI Co. (NYSE:SES)’s stock price gapped down before the market opened on Monday following insider selling activity. 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 stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. Following the completion of the transaction, the chief financial officer now owns 1,935,322 shares of the company’s stock, valued at $1,974,028.44. This trade represents a 7.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $1.50 price objective on shares of SES AI in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective for the company.

SES AI Price Performance

The company’s 50 day moving average price is $0.49 and its 200 day moving average price is $0.82. The firm has a market cap of $872.62 million, a PE ratio of -10.52 and a beta of 2.27.

SES AI (NYSE:SES) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period last year, the business posted ($0.04) EPS. Sell-side analysts expect that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SES AI

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in shares of SES AI during the third quarter worth about $28,000. SG Americas Securities LLC lifted its stake in SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock worth $43,000 after acquiring an additional 31,832 shares during the last quarter. DRW Securities LLC acquired a new position in SES AI during the 3rd quarter worth approximately $52,000. Anson Funds Management LP purchased a new stake in shares of SES AI in the 3rd quarter valued at approximately $108,000. Finally, Barclays PLC raised its holdings in shares of SES AI by 281.1% in the 3rd quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after purchasing an additional 126,763 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.