SES AI (NYSE:SES) Trading Down 10.3% – What’s Next?

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

SES AI Price Performance

The company’s 50-day simple moving average is $0.76 and its 200-day simple moving average is $0.87. The stock has a market capitalization of $463.35 million, a price-to-earnings ratio of -5.59 and a beta of 0.37.

SES AI (NYSE:SES) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same period last year, the business earned ($0.04) earnings per share. Research analysts expect that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Activity

In other news, CFO Jing Nealis sold 150,000 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $1.02, for a total transaction of $153,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,935,322 shares in the company, valued at approximately $1,974,028.44. This represents a 7.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sk Inc. sold 400,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $0.62, for a total value of $248,000.00. Following the sale, the insider now directly owns 39,527,701 shares in the company, valued at approximately $24,507,174.62. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,282,000 shares of company stock valued at $3,307,400. 15.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On SES AI

Several institutional investors and hedge funds have recently bought and sold shares of SES. Geode Capital Management LLC raised its position in shares of SES AI by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after buying an additional 83,607 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $744,000 after purchasing an additional 46,778 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 71,794 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of SES AI by 1,039.9% in the 2nd quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock valued at $309,000 after purchasing an additional 225,299 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of SES AI by 204.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after purchasing an additional 122,803 shares during the last quarter. Institutional investors own 29.78% of the company’s stock.

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.