SES AI (NYSE:SES) Shares Gap Down – Here’s Why

SES AI Corporation (NYSE:SES) shares gapped down before the market opened on Friday . The stock had previously closed at $1.77, but opened at $1.70. SES AI shares last traded at $1.7550, with a volume of 290,048 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SES shares. Wall Street Zen cut shares of SES AI from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Cantor Fitzgerald increased their price target on shares of SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

SES AI Trading Down 4.8%

The stock has a market capitalization of $615.14 million, a P/E ratio of -5.98 and a beta of 0.57. The firm’s fifty day moving average is $2.02 and its 200-day moving average is $1.90.

Insider Buying and Selling

In other SES AI 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 value of $250,000.00. Following the completion of the transaction, the insider owned 1,253,286 shares in the company, valued at approximately $3,133,215. The trade was a 7.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 350,000 shares of company stock worth $823,000. 13.80% of the stock is owned by corporate insiders.

Institutional Trading of SES AI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its position in SES AI by 563.9% during the 4th 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of SES AI by 3,649.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,924,642 shares of the company’s stock worth $5,264,000 after purchasing an additional 2,846,642 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of SES AI by 2,434.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,850,956 shares of the company’s stock valued at $5,132,000 after purchasing an additional 2,738,489 shares in the last quarter. Vanguard Group Inc. raised its position in SES AI by 21.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,083,010 shares of the company’s stock worth $18,509,000 after purchasing an additional 1,927,945 shares during the last quarter. Finally, State Street Corp lifted its holdings in SES AI by 150.2% during the 4th quarter. State Street Corp now owns 2,886,991 shares of the company’s stock worth $5,197,000 after buying an additional 1,733,209 shares in the last quarter. 29.78% of the stock is currently 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.