SES AI (NYSE:SES) Shares Cross Below 50-Day Moving Average – Should You Sell?

SES AI Corporation (NYSE:SES) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $0.70 and traded as low as $0.5783. SES AI shares last traded at $0.5860, with a volume of 40,275,195 shares traded.

Analysts Set New Price Targets

SES has been the subject of several recent analyst reports. Weiss Ratings raised shares of SES AI from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 21st. Deutsche Bank set a $1.10 price target on SES AI in a report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.10.

SES AI Stock Down 34.9%

The business’s fifty day moving average is $0.70 and its two-hundred day moving average is $0.98. The stock has a market capitalization of $217.58 million, a PE ratio of -2.93 and a beta of 0.98.

SES AI (NYSE:SES) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. SES AI had a negative net margin of 289.64% and a negative return on equity of 26.21%. The company had revenue of $6.64 million for the quarter, compared to the consensus estimate of $6.70 million. Sell-side analysts expect that SES AI Corporation will post -0.17 EPS for the current fiscal year.

Institutional Trading of SES AI

Hedge funds have recently made changes to their positions in the business. CTC Alternative Strategies Ltd. bought a new position in shares of SES AI in the 1st quarter valued at about $26,000. Bank of America Corp DE increased its stake in SES AI by 114.7% during the first quarter. Bank of America Corp DE now owns 610,399 shares of the company’s stock worth $587,000 after acquiring an additional 326,033 shares during the last quarter. SummitTX Capital L.P. bought a new stake in SES AI during the first quarter worth approximately $33,000. Renaissance Technologies LLC increased its stake in SES AI by 57.2% during the first quarter. Renaissance Technologies LLC now owns 4,596,252 shares of the company’s stock worth $4,422,000 after acquiring an additional 1,671,610 shares during the last quarter. Finally, State of Wyoming purchased a new stake in SES AI during the first quarter valued at approximately $26,000. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

About SES AI

SES AI Corporation develops rechargeable lithium-metal batteries and artificial intelligence tools for battery development and management. Its work includes designing battery cells and materials intended to support applications that require high energy density, including electric vehicles and aviation. The company also develops its Molecular Universe platform, which uses AI and computational methods to identify and evaluate battery materials. SES AI applies its technology to battery discovery, cell development, safety monitoring and performance analysis.