SES AI (NYSE:SES) Stock Price Down 4.5% – What’s Next?
by Michael Walen · The Markets DailySES AI Corporation (NYSE:SES – Get Free Report)’s stock price dropped 4.5% on Tuesday . The company traded as low as $1.83 and last traded at $1.8250. Approximately 5,823,360 shares traded hands during trading, a decline of 64% from the average daily volume of 16,213,785 shares. The stock had previously closed at $1.91.
Wall Street Analysts Forecast Growth
A number of analysts have commented on SES shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SES AI in a report on Wednesday, October 8th. Cantor Fitzgerald increased their price objective on SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.00.
View Our Latest Analysis on SES AI
SES AI Stock Up 1.1%
The firm has a market cap of $660.78 million, a PE ratio of -6.46 and a beta of 0.56. The stock has a 50-day simple moving average of $2.06 and a two-hundred day simple moving average of $1.65.
SES AI (NYSE:SES – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The firm had revenue of $7.12 million during the quarter, compared to analysts’ expectations of $4.58 million. Research analysts expect that SES AI Corporation will post -0.23 earnings per share for the current year.
Insider Activity
In related news, insider Hong Gan sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $1.90, for a total transaction of $285,000.00. Following the completion of the sale, the insider directly owned 1,253,286 shares in the company, valued at approximately $2,381,243.40. The trade was a 10.69% 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. 13.80% of the stock is currently owned by company insiders.
Institutional Trading of SES AI
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in SES AI in the 3rd quarter worth $105,000. Lido Advisors LLC purchased a new stake in shares of SES AI in the third quarter worth about $45,000. Bank of America Corp DE increased its stake in SES AI by 1,815.7% in the 3rd quarter. Bank of America Corp DE now owns 55,997 shares of the company’s stock worth $94,000 after acquiring an additional 53,074 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of SES AI in the third quarter valued at $91,000. Finally, Raymond James Financial Inc. grew its stake in shares of SES AI by 35.1% in the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock worth $34,000 after buying an additional 5,268 shares in the last quarter. 29.78% of the stock is owned by hedge funds and other 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.