SES AI (NYSE:SES) Trading 8.5% Higher – Should You Buy?

SES AI Corporation (NYSE:SES)’s stock price shot up 8.5% on Thursday . The company traded as high as $2.07 and last traded at $1.9750. 1,561,340 shares traded hands during trading, a decline of 91% from the average session volume of 16,529,510 shares. The stock had previously closed at $1.82.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of SES AI in a report on Wednesday, October 8th. Cantor Fitzgerald increased their target price on shares of SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.00.

SES AI Stock Up 6.9%

The firm has a 50-day simple moving average of $2.29 and a 200 day simple moving average of $1.58. The company has a market cap of $710.06 million, a price-to-earnings ratio of -6.91 and a beta of 0.56.

SES AI (NYSE:SES) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) 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 business had revenue of $7.12 million for the quarter, compared to analysts’ expectations of $4.58 million. As a group, research analysts expect that SES AI Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at SES AI

In other news, insider Hong Gan sold 100,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $1.98, for a total transaction of $198,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $2,481,506.28. This represents a 7.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in SES. Voya Investment Management LLC acquired a new position in SES AI during the first quarter worth about $31,000. Hudson Bay Capital Management LP purchased a new stake in shares of SES AI during the 2nd quarter worth approximately $31,000. Verdence Capital Advisors LLC grew its holdings in shares of SES AI by 42.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 20,000 shares of the company’s stock worth $33,000 after acquiring an additional 6,000 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in SES AI by 136.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 38,006 shares of the company’s stock valued at $34,000 after purchasing an additional 21,934 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in SES AI by 35.1% during the third quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock worth $34,000 after purchasing an additional 5,268 shares during the last quarter. 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.