SES AI Co. (NYSE:SES - Get Free Report) major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was 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 owns 9,843,622 shares of the company's stock, valued at $1,968,724.40. This trade represents a 57.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
SES AI Trading Up 12.9 %
Shares of SES opened at $0.32 on Wednesday. The firm has a market capitalization of $115.93 million, a P/E ratio of -1.40 and a beta of 2.43. The firm's 50-day moving average is $0.60 and its two-hundred day moving average is $0.98. SES AI Co. has a twelve month low of $0.20 and a twelve month high of $2.57.
SES AI (NYSE:SES - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.04). During the same period in the prior year, the firm posted ($0.04) earnings per share. Analysts predict that SES AI Co. will post -0.23 EPS for the current year.
Hedge Funds Weigh In On SES AI
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Several hedge funds have recently added to or reduced their stakes in SES. Squarepoint Ops LLC grew its position in shares of SES AI by 1,039.9% in the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company's stock valued at $309,000 after purchasing an additional 225,299 shares during the last quarter. Anson Funds Management LP purchased a new position in SES AI during the third quarter worth $108,000. Barclays PLC lifted its position in shares of SES AI by 281.1% in the third quarter. Barclays PLC now owns 171,860 shares of the company's stock valued at $109,000 after acquiring an additional 126,763 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company's stock valued at $1,980,000 after acquiring an additional 83,607 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company's stock valued at $19,875,000 after acquiring an additional 82,245 shares during the last quarter. 29.78% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on SES. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $1.50 price objective on shares of SES AI in a report on Tuesday, September 10th. Wolfe Research began coverage on SES AI in a research note on Thursday, September 5th. They issued an "underperform" rating and a $1.00 price target on the stock.
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About SES AI
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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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