SES AI Corporation (NYSE:SES) Sees Significant Growth in Short Interest
by Danessa Lincoln · The Markets DailySES AI Corporation (NYSE:SES – Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 8,755,124 shares, an increase of 66.0% from the November 30th total of 5,273,211 shares. Based on an average daily trading volume, of 7,157,666 shares, the short-interest ratio is currently 1.2 days. Approximately 2.8% of the company’s shares are short sold. Approximately 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 7,157,666 shares, the short-interest ratio is currently 1.2 days.
SES AI Stock Performance
Shares of NYSE:SES traded down $0.09 during midday trading on Friday, hitting $1.96. 3,200,381 shares of the company’s stock traded hands, compared to its average volume of 5,926,065. The firm’s fifty day moving average price is $2.12 and its two-hundred day moving average price is $1.63. SES AI has a twelve month low of $0.38 and a twelve month high of $3.73. The company has a market cap of $713.72 million, a PE ratio of -6.98 and a beta of 0.56.
SES AI (NYSE:SES – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The company had revenue of $7.12 million during the quarter, compared to analysts’ expectations of $4.58 million. As a group, equities research analysts anticipate that SES AI will post -0.23 EPS for the current fiscal year.
Insider Buying and Selling
In other SES AI news, insider Hong Gan sold 100,000 shares of SES AI stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $1.98, for a total value of $198,000.00. Following the completion of the sale, the insider owned 1,253,286 shares in the company, valued at $2,481,506.28. The trade was a 7.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.80% of the stock is owned by company insiders.
Institutional Trading of SES AI
Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of SES AI during the third quarter worth $105,000. Lido Advisors LLC acquired a new stake in SES AI during the 3rd quarter valued at $45,000. Bank of America Corp DE increased its stake in SES AI by 1,815.7% during the 3rd quarter. Bank of America Corp DE now owns 55,997 shares of the company’s stock worth $94,000 after buying an additional 53,074 shares during the period. Bank of Nova Scotia acquired a new position in SES AI in the 3rd quarter worth $91,000. Finally, Raymond James Financial Inc. lifted its holdings in SES AI by 35.1% in the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock worth $34,000 after buying an additional 5,268 shares in the last quarter. Hedge funds and other institutional investors own 29.78% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research note on Wednesday, October 8th. Cantor Fitzgerald upped their price objective on SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, SES AI currently has a consensus rating of “Hold” and an average target price of $4.00.
Check Out Our Latest Research Report on SES
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.