SES AI (NYSE:SES) Trading Up 11.8% – Time to Buy?

by · The Markets Daily

SES AI Corporation (NYSE:SES – Get Free Report) was up 11.8% on Thursday . The stock traded as high as $2.25 and last traded at $2.2350. Approximately 4,877,829 shares traded hands during trading, a decline of 71% from the average daily volume of 16,960,150 shares. The stock had previously closed at $2.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald upped their target price on SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of SES AI in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.00.

Check Out Our Latest Research Report on SES

SES AI Trading Up 16.8%

The company has a market capitalization of $852.44 million, a PE ratio of -8.35 and a beta of 0.56. The stock’s fifty day moving average is $2.29 and its two-hundred day moving average is $1.50.

SES AI (NYSE:SES – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $7.12 million during the quarter, compared to the consensus estimate of $4.58 million. SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%. As a group, analysts anticipate that SES AI Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, insider Hong Gan sold 150,000 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $1.90, for a total transaction of $285,000.00. Following the completion of the transaction, the insider owned 1,253,286 shares in the company, valued at approximately $2,381,243.40. This represents a 10.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SES AI

Several institutional investors have recently added to or reduced their stakes in SES. XTX Topco Ltd purchased a new stake in shares of SES AI during the second quarter worth $676,000. Invesco Ltd. raised its stake in shares of SES AI by 1,537.2% during the 1st quarter. Invesco Ltd. now owns 892,494 shares of the company’s stock valued at $465,000 after purchasing an additional 837,982 shares during the period. Farther Finance Advisors LLC purchased a new stake in SES AI during the 2nd quarter worth about $125,000. HITE Hedge Asset Management LLC bought a new position in SES AI in the 1st quarter worth about $339,000. Finally, Nuveen LLC bought a new position in SES AI in the 1st quarter worth about $233,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

About SES AI

(Get Free Report)

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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