SES AI (NYSE:SES) Shares Gap Up – Here’s Why

Shares of SES AI Co. (NYSE:SES) gapped up prior to trading on Friday . The stock had previously closed at $1.90, but opened at $2.30. SES AI shares last traded at $2.33, with a volume of 18,157,049 shares changing hands.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price target on shares of SES AI in a report on Tuesday, September 10th.

SES AI Price Performance

The firm’s fifty day moving average is $0.64 and its two-hundred day moving average is $0.86. The firm has a market capitalization of $811.32 million, a PE ratio of -9.78 and a beta of 2.27.

SES AI (NYSE:SES) last announced its earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period in the previous year, the firm posted ($0.04) earnings per share. As a group, equities research analysts predict that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at SES AI

In related news, CFO Jing Nealis sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total value of $153,000.00. Following the transaction, the chief financial officer now owns 1,935,322 shares in the company, valued at approximately $1,974,028.44. This represents a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $0.20, for a total value of $2,666,400.00. Following the transaction, the insider now directly owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. This trade represents a 57.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,766,910 shares of company stock worth $3,602,346 in the last quarter. 15.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of SES AI by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock worth $117,000 after acquiring an additional 122,803 shares during the period. Barclays PLC increased its position in shares of SES AI by 281.1% during the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after buying an additional 126,763 shares during the period. Geode Capital Management LLC lifted its holdings 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. Anson Funds Management LP bought a new position in shares of SES AI in the third quarter valued at approximately $108,000. Finally, XTX Topco Ltd bought a new stake in SES AI during the 3rd quarter worth approximately $28,000. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

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.