SES AI (NYSE:SES) Reaches New 52-Week High – Time to Buy?

SES AI Co. (NYSE:SES)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $2.53 and last traded at $2.37, with a volume of 22460150 shares changing hands. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

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

SES AI Trading Down 3.6 %

The stock has a market cap of $782.47 million, a PE ratio of -9.43 and a beta of 2.27. The business has a 50 day moving average of $0.64 and a 200-day moving average of $0.86.

SES AI (NYSE:SES) last announced its earnings results 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 period last year, the firm posted ($0.04) EPS. Research analysts expect that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at SES AI

In other SES AI news, major shareholder Sk Inc. sold 400,000 shares of SES AI stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $0.62, for a total value of $248,000.00. Following the transaction, the insider now directly owns 39,527,701 shares in the company, valued at approximately $24,507,174.62. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,684,481 shares of company stock worth $3,552,889. 15.07% of the stock is owned by company insiders.

Institutional Trading of SES AI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in SES AI by 20.2% during the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock worth $535,000 after purchasing an additional 71,794 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of SES AI by 62.8% during the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after buying an additional 46,800 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock valued at $309,000 after buying an additional 225,299 shares during the period. SG Americas Securities LLC boosted its stake in shares of SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after buying an additional 31,832 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in SES AI by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock worth $744,000 after acquiring an additional 46,778 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.