SES AI (NYSE:SES) Trading Down 10.3% – Here’s What Happened

Shares of SES AI Co. (NYSE:SES) fell 10.3% during trading on Friday . The company traded as low as $1.37 and last traded at $1.39. 4,249,570 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 26,826,375 shares. The stock had previously closed at $1.55.

SES AI Price Performance

The firm has a market cap of $463.35 million, a P/E ratio of -5.59 and a beta of 0.37. The stock’s 50-day moving average price is $0.76 and its 200 day moving average price is $0.87.

SES AI (NYSE:SES) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period in the previous year, the company earned ($0.04) EPS. As a group, analysts forecast that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at SES AI

In other news, CFO Jing Nealis sold 150,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total value of $153,000.00. Following the completion of the sale, the chief financial officer now owns 1,935,322 shares of the company’s stock, valued at approximately $1,974,028.44. This represents a 7.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sk Inc. sold 400,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $0.60, for a total transaction of $240,000.00. Following the transaction, the insider now owns 38,762,803 shares in the company, valued at approximately $23,257,681.80. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,282,000 shares of company stock worth $3,307,400 over the last ninety days. 15.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SES AI

A number of institutional investors and hedge funds have recently modified their holdings of SES. 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 buying an additional 71,794 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of SES AI by 62.8% during the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after acquiring an additional 46,800 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of 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 last quarter. SG Americas Securities LLC lifted its holdings in SES AI by 91.6% during the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock valued at $43,000 after purchasing an additional 31,832 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in SES AI by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock worth $744,000 after purchasing an additional 46,778 shares during the period. 29.78% of the stock is owned by 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.