SES AI Co. (NYSE:SES) Short Interest Update

SES AI Co. (NYSE:SES) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 5,480,000 shares, a decline of 26.2% from the September 15th total of 7,430,000 shares. Currently, 3.3% of the company’s shares are short sold. Based on an average daily volume of 1,960,000 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SES. Wolfe Research started coverage on shares of SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 price objective on shares of SES AI in a report on Tuesday, September 10th.

SES AI Stock Up 10.1 %

Shares of SES AI stock opened at $0.62 on Friday. The company has a market cap of $223.03 million, a P/E ratio of -3.47 and a beta of 2.39. The firm’s 50 day moving average price is $0.88 and its 200-day moving average price is $1.17. SES AI has a 52-week low of $0.55 and a 52-week high of $2.57.

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

Insider Buying and Selling

In other news, major shareholder Sk Inc. sold 82,429 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $0.60, for a total value of $49,457.40. Following the sale, the insider now directly owns 40,601,438 shares in the company, valued at approximately $24,360,862.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Holdings (Private) Ltd Temasek sold 253,119 shares of SES AI stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $0.83, for a total transaction of $210,088.77. Following the completion of the sale, the insider now owns 2,297,782 shares of the company’s stock, valued at approximately $1,907,159.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sk Inc. sold 82,429 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $0.60, for a total value of $49,457.40. Following the completion of the transaction, the insider now directly owns 40,601,438 shares in the company, valued at approximately $24,360,862.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,073,348 shares of company stock valued at $1,718,737. Company insiders own 15.07% of the company’s stock.

Institutional Investors Weigh In On SES AI

A number of large investors have recently modified their holdings of SES. Bank of New York Mellon Corp boosted its stake in SES AI by 20.2% in the 2nd 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of SES AI by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after buying an additional 82,245 shares during the last quarter. Squarepoint Ops LLC lifted its position in SES AI by 1,039.9% during the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after acquiring an additional 225,299 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of SES AI during the first quarter worth about $88,000. Finally, SG Americas Securities LLC boosted its position in SES AI by 91.6% in the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after buying an additional 31,832 shares during the last quarter. Hedge funds and other institutional investors 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.