SES AI Co. (NYSE:SES) Major Shareholder General Motors Holdings Llc Sells 13,332,000 Shares

SES AI Co. (NYSE:SES) major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the completion of the sale, the insider now directly owns 9,843,622 shares in the company, valued at approximately $1,968,724.40. This trade represents a 57.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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

NYSE SES opened at $0.32 on Wednesday. The firm’s fifty day moving average price is $0.60 and its 200 day moving average price is $0.98. SES AI Co. has a 12 month low of $0.20 and a 12 month high of $2.57. The company has a market capitalization of $115.93 million, a price-to-earnings ratio of -1.40 and a beta of 2.43.

SES AI (NYSE:SES) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same quarter in the prior year, the business posted ($0.04) EPS. As a group, sell-side analysts forecast that SES AI Co. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SES. Wolfe Research began coverage on shares of SES AI in a research note on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th.

Hedge Funds Weigh In On SES AI

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in SES AI during the 3rd quarter worth $28,000. SG Americas Securities LLC raised its holdings 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 during the last quarter. DRW Securities LLC acquired a new stake in shares of SES AI during the third quarter worth about $52,000. EntryPoint Capital LLC purchased a new position in shares of SES AI during the first quarter worth about $88,000. Finally, Anson Funds Management LP acquired a new position in SES AI in the 3rd quarter valued at about $108,000. 29.78% of the stock is owned by institutional investors and hedge funds.

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.