SES AI (NYSE:SES) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

SES AI (NYSE:SES) released its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04), Zacks reports. During the same quarter in the prior year, the firm posted ($0.04) EPS.

SES AI Trading Down 4.6 %

Shares of NYSE:SES traded down $0.02 during mid-day trading on Friday, reaching $0.45. The stock had a trading volume of 3,090,112 shares, compared to its average volume of 2,634,060. The business’s 50 day moving average price is $0.77 and its 200 day moving average price is $1.07. SES AI has a 1 year low of $0.43 and a 1 year high of $2.57. The company has a market cap of $161.43 million, a P/E ratio of -1.96 and a beta of 2.43.

Insider Buying and Selling at SES AI

In related news, major shareholder Sk Inc. sold 400,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $0.60, for a total value of $240,000.00. Following the sale, the insider now owns 38,762,803 shares in the company, valued at approximately $23,257,681.80. 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 accessible through this hyperlink. In related news, major shareholder Sk Inc. sold 400,000 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $0.60, for a total value of $240,000.00. Following the completion of the transaction, the insider now owns 38,762,803 shares of the company’s stock, valued at approximately $23,257,681.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jing Nealis sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $1.05, for a total value of $52,500.00. Following the sale, the chief financial officer now directly owns 1,979,422 shares in the company, valued at $2,078,393.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,273,348 shares of company stock worth $2,450,737 in the last quarter. 15.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SES has been the subject of a number of recent analyst reports. Wolfe Research started coverage on SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $1.50 price objective on shares of SES AI in a research report 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.