SES AI (NYSE:SES) Price Target Cut to $4.00

SES AI (NYSE:SES – Get Rating) had its target price lowered by Deutsche Bank Aktiengesellschaft from $7.00 to $4.00 in a research note issued to investors on Wednesday, The Fly reports.

SES AI Price Performance

NYSE SES opened at $2.70 on Wednesday. SES AI has a 12 month low of $2.63 and a 12 month high of $10.18. The stock’s 50 day moving average is $3.23 and its 200 day moving average is $4.24.

Insider Activity at SES AI

In other SES AI news, CFO Jing Nealis sold 17,155 shares of the stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $3.59, for a total transaction of $61,586.45. Following the completion of the transaction, the chief financial officer now owns 1,469,423 shares of the company’s stock, valued at approximately $5,275,228.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 40,825 shares of company stock valued at $142,572. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of SES AI

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in SES AI in the first quarter worth $150,000. Bank of New York Mellon Corp bought a new stake in shares of SES AI in the 1st quarter worth about $354,000. Citigroup Inc. purchased a new stake in shares of SES AI during the 1st quarter valued at about $73,000. BlackRock Inc. purchased a new stake in shares of SES AI during the 1st quarter valued at about $12,406,000. Finally, Vanguard Group Inc. bought a new position in shares of SES AI in the 1st quarter valued at about $10,785,000. 27.39% of the stock is owned by hedge funds and other institutional investors.

About SES AI

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SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles and other applications. The company was founded in 2012 and is headquartered in Boston, Massachusetts.