SES AI (NYSE:SES) Shares Gap Up – Still a Buy?

SES AI Corporation (NYSE:SES)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.36, but opened at $2.48. SES AI shares last traded at $2.5440, with a volume of 4,522,438 shares trading hands.

Analyst Upgrades and Downgrades

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

SES AI Stock Up 9.5%

The business’s fifty day moving average is $2.01 and its two-hundred day moving average is $1.78. The stock has a market cap of $943.71 million, a price-to-earnings ratio of -9.23 and a beta of 0.57.

SES AI (NYSE:SES) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $7.12 million during the quarter, compared to analysts’ expectations of $4.58 million. SES AI had a negative net margin of 490.03% and a negative return on equity of 35.31%. As a group, sell-side analysts expect that SES AI Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at SES AI

In related news, insider Hong Gan sold 150,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $1.90, for a total transaction of $285,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at $2,381,243.40. The trade was a 10.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several hedge funds and other institutional investors have recently made changes to their positions in SES. Voya Investment Management LLC purchased a new stake in shares of SES AI during the first quarter worth approximately $31,000. Hudson Bay Capital Management LP acquired a new position in SES AI during the 2nd quarter worth approximately $31,000. Verdence Capital Advisors LLC grew its holdings in SES AI by 42.9% during 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 in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of 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 during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of SES AI by 35.1% in the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock valued at $34,000 after purchasing an additional 5,268 shares in the last quarter. Hedge funds and other institutional investors own 29.78% of the company’s stock.

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.