SES AI (NYSE:SES) Research Coverage Started at Wolfe Research

Wolfe Research started coverage on shares of SES AI (NYSE:SES) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm issued an underperform rating and a $1.00 target price on the stock.

SES AI Price Performance

Shares of SES AI stock opened at $0.99 on Thursday. SES AI has a fifty-two week low of $0.81 and a fifty-two week high of $2.66. The firm has a market capitalization of $353.48 million, a P/E ratio of -6.19 and a beta of 2.43. The company’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.31.

SES AI (NYSE:SES) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). During the same period in the prior year, the business posted ($0.04) EPS. On average, analysts expect that SES AI will post -0.17 earnings per share for the current year.

Insider Transactions at SES AI

In related news, insider Hong Gan sold 25,000 shares of SES AI stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1.17, for a total transaction of $29,250.00. Following the completion of the transaction, the insider now owns 825,506 shares of the company’s stock, valued at $965,842.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other SES AI news, CFO Jing Nealis sold 50,000 shares of SES AI stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $1.05, for a total value of $52,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,979,422 shares of the company’s stock, valued at $2,078,393.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hong Gan sold 25,000 shares of SES AI stock in a transaction on Monday, July 1st. The shares were sold at an average price of $1.17, for a total transaction of $29,250.00. Following the completion of the sale, the insider now directly owns 825,506 shares of the company’s stock, valued at $965,842.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,276 shares of company stock worth $85,214. Company insiders own 15.07% of the company’s stock.

Institutional Investors Weigh In On SES AI

Hedge funds and other institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new stake in shares of SES AI during the first quarter worth about $88,000. Renaissance Technologies LLC boosted its holdings in SES AI by 62.8% during the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after purchasing an additional 46,800 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in 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 purchasing an additional 225,299 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 71,794 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after purchasing an additional 82,245 shares during the last quarter. 29.78% of the stock is owned by institutional investors.

About SES AI

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.