SES AI Co. (NYSE:SES) Major Shareholder Sells $870,000.00 in Stock

SES AI Co. (NYSE:SES) major shareholder Holdings (Private) Ltd Temasek sold 1,000,000 shares of SES AI stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $0.87, for a total value of $870,000.00. Following the sale, the insider now owns 3,018,044 shares in the company, valued at $2,625,698.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings (Private) Ltd Temasek also recently made the following trade(s):

• On Monday, September 16th, Holdings (Private) Ltd Temasek sold 67,890 shares of SES AI stock. The stock was sold at an average price of $1.02, for a total value of $69,247.80.
• On Friday, September 13th, Holdings (Private) Ltd Temasek sold 165,539 shares of SES AI stock. The stock was sold at an average price of $1.04, for a total value of $172,160.56.

SES AI Trading Down 10.5 %

SES stock opened at $0.76 on Friday. The firm has a 50 day moving average of $1.06 and a 200-day moving average of $1.27. The firm has a market capitalization of $271.61 million, a P/E ratio of -4.76 and a beta of 2.43. SES AI Co. has a 12 month low of $0.76 and a 12 month high of $2.66.

SES AI (NYSE:SES) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same quarter in the previous year, the company earned ($0.04) EPS. Sell-side analysts predict that SES AI Co. will post -0.23 EPS for the current year.

Institutional Investors Weigh In On SES AI

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in 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. Bank of New York Mellon Corp grew its holdings in shares of 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 in the last quarter. Squarepoint Ops LLC grew its holdings in shares of SES AI by 1,039.9% during the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after purchasing an additional 225,299 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of SES AI by 62.8% in 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 last quarter. Finally, EntryPoint Capital LLC purchased a new stake in SES AI in the first quarter valued at approximately $88,000. Institutional investors own 29.78% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wolfe Research started coverage on shares of 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 issued a $1.50 price target 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.