SES AI (NYSE:SES) Trading Up 11.8% – What’s Next?

SES AI Corporation (NYSE:SES) shares rose 11.8% during trading on Thursday . The stock traded as high as $2.25 and last traded at $2.2350. Approximately 4,877,829 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 16,960,150 shares. The stock had previously closed at $2.00.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SES shares. Cantor Fitzgerald upped their price objective 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. Weiss Ratings restated a “sell (d-)” rating on shares of SES AI in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

SES AI Price Performance

The stock has a market cap of $786.73 million, a PE ratio of -7.70 and a beta of 0.56. The stock has a 50-day simple moving average of $2.30 and a 200-day simple moving average of $1.52.

SES AI (NYSE:SES) last released its quarterly earnings data 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 net margin of 490.03% and a negative return on equity of 35.31%. The firm had revenue of $7.12 million during the quarter, compared to analyst estimates of $4.58 million. As a group, equities research analysts anticipate that SES AI Corporation will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other SES AI news, insider Hong Gan sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $1.90, for a total transaction of $285,000.00. Following the completion of the sale, the insider directly owned 1,253,286 shares in the company, valued at $2,381,243.40. The trade was a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SES AI

Several hedge funds and other institutional investors have recently made changes to their positions in SES. Caitong International Asset Management Co. Ltd bought a new stake in shares of SES AI in the third quarter worth $105,000. Lido Advisors LLC acquired a new position in SES AI during the 3rd quarter worth $45,000. Bank of America Corp DE grew its holdings in SES AI by 1,815.7% during the 3rd quarter. Bank of America Corp DE now owns 55,997 shares of the company’s stock worth $94,000 after acquiring an additional 53,074 shares in the last quarter. Bank of Nova Scotia bought a new stake in shares of SES AI in the 3rd quarter worth about $91,000. Finally, Raymond James Financial Inc. raised its stake in shares of SES AI by 35.1% in the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock valued at $34,000 after purchasing an additional 5,268 shares in the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

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.