Sk Inc. Sells 100,000 Shares of SES AI Co. (NYSE:SES) Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $0.61, for a total value of $61,000.00. Following the completion of the sale, the insider now directly owns 40,683,867 shares in the company, valued at approximately $24,817,158.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Sk Inc. also recently made the following trade(s):

• On Wednesday, October 9th, Sk Inc. sold 2,481 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total value of $1,488.60.
• On Monday, October 7th, Sk Inc. sold 82,429 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total transaction of $49,457.40.
• On Wednesday, October 2nd, Sk Inc. sold 243,951 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total transaction of $146,370.60.
• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The stock was sold at an average price of $0.70, for a total transaction of $49,823.20.

SES AI Trading Down 3.5 %

SES opened at $0.57 on Friday. SES AI Co. has a twelve month low of $0.55 and a twelve month high of $2.65. The firm has a market capitalization of $202.21 million, a PE ratio of -3.54 and a beta of 2.39. The firm’s 50-day moving average price is $0.89 and its 200 day moving average price is $1.18.

SES AI (NYSE:SES) last issued its earnings results on Monday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same period last year, the business posted ($0.04) earnings per share. As a group, analysts predict that SES AI Co. will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SES AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of SES AI by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after acquiring an additional 82,245 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of SES AI in the first quarter valued at about $88,000. Bank of New York Mellon Corp increased its position in SES AI by 20.2% during the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock worth $535,000 after purchasing an additional 71,794 shares during the last quarter. Renaissance Technologies LLC raised its stake in SES AI by 62.8% during the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after purchasing an additional 46,800 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock valued at $309,000 after purchasing an additional 225,299 shares during the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SES. Wolfe Research initiated coverage on SES AI in a report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price target on shares of SES AI in a research note on Tuesday, September 10th.

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.