SES AI (NYSE:SES) Stock Price Up 9.1% – Here’s What Happened

SES AI Corporation (NYSE:SES)’s stock price rose 9.1% during trading on Thursday . The company traded as high as $1.42 and last traded at $1.3850. Approximately 3,090,285 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 8,539,592 shares. The stock had previously closed at $1.27.

Key Stories Impacting SES AI

Here are the key news stories impacting SES AI this week:

• Negative Sentiment: Several law firms, including Rosen, Faruqi & Faruqi, Glancy Prongay Wolke & Rotter, Schall, Bragar Eagel & Squire, and others, issued fresh reminders about the pending SES AI securities class action and the June 26 lead-plaintiff deadline, extending the stock’s legal overhang. Article Title
• Negative Sentiment: The lawsuits continue to highlight allegations that SES AI’s revenue guidance and earlier statements were overly optimistic, with one notice specifically referencing weak revenue guidance and a sharp prior stock decline, which may reinforce bearish sentiment. Article Title
• Neutral Sentiment: One insider sale by Kyle Pilkington of 25,000 shares was disclosed, but it was executed under a pre-arranged Rule 10b5-1 trading plan, making it less informative as a near-term signal on operating performance. Article Title

Wall Street Analyst Weigh In

SES has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.40 price target on shares of SES AI in a research report on Monday, April 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of SES AI in a research report on Thursday, March 5th. Finally, Wall Street Zen raised shares of SES AI from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.70.

SES AI Trading Down 5.4%

The firm has a market capitalization of $478.44 million, a P/E ratio of -5.93 and a beta of 0.84. The firm has a 50 day moving average price of $1.08 and a 200-day moving average price of $1.61.

SES AI (NYSE:SES) last released its earnings results on Thursday, April 23rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $6.71 million for the quarter, compared to the consensus estimate of $3.65 million. SES AI had a negative net margin of 331.72% and a negative return on equity of 28.65%. Research analysts anticipate that SES AI Corporation will post -0.16 earnings per share for the current year.

Insider Transactions at SES AI

In other SES AI news, insider Kyle Pilkington sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1.20, for a total value of $30,000.00. Following the completion of the sale, the insider owned 1,023,548 shares of the company’s stock, valued at $1,228,257.60. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SES AI

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in SES AI by 57.2% during the 1st quarter. Renaissance Technologies LLC now owns 4,596,252 shares of the company’s stock valued at $4,422,000 after acquiring an additional 1,671,610 shares during the period. SummitTX Capital L.P. purchased a new stake in SES AI in the first quarter worth $33,000. CTC Alternative Strategies Ltd. purchased a new stake in SES AI in the first quarter worth $26,000. Kestra Advisory Services LLC lifted its position in shares of SES AI by 51.3% during the first quarter. Kestra Advisory Services LLC now owns 396,185 shares of the company’s stock worth $381,000 after purchasing an additional 134,300 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of SES AI by 251.4% during the first quarter. SG Americas Securities LLC now owns 50,836 shares of the company’s stock worth $49,000 after purchasing an additional 36,371 shares during the last quarter. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

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.