SES AI (NYSE:SES) Trading 9.7% Higher – Here’s What Happened

SES AI Corporation (NYSE:SES) rose 9.7% during mid-day trading on Wednesday . The stock traded as high as $1.72 and last traded at $1.6999. Approximately 3,881,055 shares were traded during trading, a decline of 44% from the average daily volume of 6,881,857 shares. The stock had previously closed at $1.55.

Analyst Ratings Changes

A number of brokerages recently commented on SES. Wall Street Zen lowered SES AI from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Cantor Fitzgerald raised their price objective on SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.00.

SES AI Trading Up 7.4%

The firm has a market capitalization of $607.84 million, a P/E ratio of -5.95 and a beta of 0.62. The stock’s 50-day simple moving average is $1.97 and its 200-day simple moving average is $1.95.

Insider Activity at SES AI

In related news, insider Hong Gan sold 100,000 shares of SES AI stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $2.50, for a total transaction of $250,000.00. Following the sale, the insider directly owned 1,253,286 shares in the company, valued at approximately $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 can be accessed through this link. Insiders sold 350,000 shares of company stock worth $823,000 over the last three months. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC increased its position in shares of SES AI by 381.3% during the 4th quarter. Virtu Financial LLC now owns 159,360 shares of the company’s stock valued at $287,000 after purchasing an additional 126,248 shares during the last quarter. Invesco Ltd. increased its holdings in SES AI by 563.9% during the fourth quarter. Invesco Ltd. now owns 6,814,389 shares of the company’s stock worth $12,266,000 after buying an additional 5,788,018 shares during the last quarter. Janus Henderson Group PLC bought a new stake in SES AI in the fourth quarter worth about $220,000. Balyasny Asset Management L.P. purchased a new position in SES AI in the fourth quarter valued at about $144,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in SES AI in the fourth quarter valued at approximately $121,000. 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.