SES AI (NYSE:SES) Stock Price Up 10.7% – Here’s What Happened

Shares of SES AI Corporation (NYSE:SES) rose 10.7% on Friday . The company traded as high as $1.79 and last traded at $1.8160. Approximately 995,556 shares were traded during trading, a decline of 86% from the average daily volume of 6,951,696 shares. The stock had previously closed at $1.64.

Wall Street Analyst Weigh In

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

SES AI Stock Up 14.9%

The stock has a 50 day moving average of $2.07 and a 200 day moving average of $1.87. The firm has a market capitalization of $688.16 million, a price-to-earnings ratio of -6.73 and a beta of 0.57.

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

Insider Activity at SES AI

In other SES AI news, insider Hong Gan sold 100,000 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $2.50, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. This trade represents 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 have sold 500,000 shares of company stock worth $1,108,000. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SES AI

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of SES AI by 2,314.7% in the first quarter. AQR Capital Management LLC now owns 1,138,003 shares of the company’s stock worth $593,000 after purchasing an additional 1,090,875 shares in the last quarter. Sitrin Capital Management LLC boosted its stake in shares of SES AI by 50.0% during the 2nd quarter. Sitrin Capital Management LLC now owns 60,000 shares of the company’s stock valued at $53,000 after buying an additional 20,000 shares during the period. Callan Family Office LLC purchased a new position in shares of SES AI during the 2nd quarter valued at $38,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of SES AI by 136.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 38,006 shares of the company’s stock valued at $34,000 after acquiring an additional 21,934 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of SES AI in the second quarter worth $65,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

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.