Short Interest in SES AI Corporation (NYSE:SES) Grows By 66.0%

SES AI Corporation (NYSE:SES) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 8,755,124 shares, an increase of 66.0% from the November 30th total of 5,273,211 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,157,666 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily trading volume, of 7,157,666 shares, the days-to-cover ratio is currently 1.2 days. Approximately 2.8% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a report on Wednesday, October 8th. 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. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, SES AI presently has a consensus rating of “Hold” and a consensus price target of $4.00.

Insider Activity

In other SES AI news, insider Hong Gan sold 150,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 1,253,286 shares in the company, valued at approximately $2,381,243.40. This represents a 10.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SES. Verdence Capital Advisors LLC increased its position in shares of SES AI by 42.9% during the third quarter. Verdence Capital Advisors LLC now owns 20,000 shares of the company’s stock valued at $33,000 after acquiring an additional 6,000 shares during the last quarter. Raymond James Financial Inc. increased its holdings in 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 during the last quarter. Lido Advisors LLC purchased a new stake in SES AI in the third quarter valued at approximately $45,000. Hudson Bay Capital Management LP acquired a new position in SES AI during the second quarter worth $31,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in SES AI by 136.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 38,006 shares of the company’s stock worth $34,000 after purchasing an additional 21,934 shares in the last quarter. Hedge funds and other institutional investors own 29.78% of the company’s stock.

SES AI Price Performance

Shares of SES stock traded down $0.07 during trading on Monday, hitting $1.91. 4,696,045 shares of the stock traded hands, compared to its average volume of 5,788,505. SES AI has a 52-week low of $0.38 and a 52-week high of $3.73. The firm has a market capitalization of $695.46 million, a P/E ratio of -6.80 and a beta of 0.56. The firm’s fifty day moving average price is $2.09 and its 200-day moving average price is $1.64.

SES AI (NYSE:SES) last posted its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The business had revenue of $7.12 million for the quarter, compared to analyst estimates of $4.58 million. As a group, equities research analysts expect that SES AI will post -0.23 earnings per share for the current year.

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.