SES AI (NYSE:SES) Insider Hong Gan Sells 100,000 Shares

SES AI Corporation (NYSE:SES) insider Hong Gan sold 100,000 shares of SES AI stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $2.50, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at $3,133,215. This trade represents a 7.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hong Gan also recently made the following trade(s):

• On Thursday, January 22nd, Hong Gan sold 150,000 shares of SES AI stock. The shares were sold at an average price of $2.50, for a total transaction of $375,000.00.
• On Monday, December 15th, Hong Gan sold 100,000 shares of SES AI stock. The shares were sold at an average price of $1.98, for a total transaction of $198,000.00.
• On Monday, November 17th, Hong Gan sold 150,000 shares of SES AI stock. The shares were sold at an average price of $1.90, for a total value of $285,000.00.

SES AI Trading Down 6.8%

Shares of SES opened at $2.40 on Friday. The company has a market cap of $874.34 million, a price-to-earnings ratio of -8.55 and a beta of 0.57. The business’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $1.80. SES AI Corporation has a 12 month low of $0.38 and a 12 month high of $3.73.

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

Hedge Funds Weigh In On SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in SES. Gainplan LLC purchased a new stake in SES AI during the fourth quarter valued at approximately $30,000. Verdence Capital Advisors LLC boosted its stake in shares of 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 during the last quarter. Raymond James Financial Inc. grew its position in shares of SES AI by 35.1% during the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock valued at $34,000 after acquiring an additional 5,268 shares during the period. Lido Advisors LLC purchased a new stake in shares of SES AI in the 3rd quarter worth $45,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of SES AI in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 29.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a report on Wednesday. Wall Street Zen upgraded shares of SES AI from a “sell” rating to a “hold” rating in a report on Friday. Finally, Cantor Fitzgerald boosted their target price on shares of SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.00.

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.