Sk Inc. Sells 71,176 Shares of SES AI Co. (NYSE:SES) Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 71,176 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $0.70, for a total transaction of $49,823.20. Following the sale, the insider now owns 41,936,583 shares in the company, valued at $29,355,608.10. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

SES AI Price Performance

Shares of NYSE SES opened at $0.59 on Friday. The firm has a market cap of $212.39 million, a PE ratio of -3.72 and a beta of 2.39. SES AI Co. has a twelve month low of $0.57 and a twelve month high of $2.66. The business has a fifty day simple moving average of $0.97 and a two-hundred day simple moving average of $1.22.

SES AI (NYSE:SES) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, research analysts expect that SES AI Co. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On SES AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew 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 valued at $43,000 after purchasing an additional 31,832 shares during the last quarter. EntryPoint Capital LLC purchased a new position in SES AI in the first quarter valued at about $88,000. Renaissance Technologies LLC grew its stake in SES AI by 62.8% in the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock valued at $152,000 after purchasing an additional 46,800 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of SES AI by 1,039.9% during the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after acquiring an additional 225,299 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 acquiring an additional 71,794 shares during the last quarter. Hedge funds and other institutional investors own 29.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SES. Wolfe Research assumed coverage on shares of SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price on the stock. 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 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.