SES AI (NYSE:SES) Shares Gap Up – Should You Buy?

SES AI Co. (NYSE:SES) gapped up prior to trading on Friday . The stock had previously closed at $1.90, but opened at $2.30. SES AI shares last traded at $2.33, with a volume of 18,157,049 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wolfe Research started coverage on shares of SES AI in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price objective on shares of SES AI in a research report on Tuesday, September 10th.

SES AI Stock Performance

The business has a 50-day moving average of $0.61 and a 200 day moving average of $0.85. The stock has a market cap of $789.68 million, a PE ratio of -9.52 and a beta of 2.27.

SES AI (NYSE:SES) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period last year, the firm posted ($0.04) EPS. Equities analysts expect that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other SES AI news, major shareholder Sk Inc. sold 82,429 shares of SES AI stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $0.60, for a total value of $49,457.40. Following the completion of the sale, the insider now owns 40,601,438 shares in the company, valued at $24,360,862.80. The trade was a 0.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the transaction, the insider now owns 9,843,622 shares in the company, valued at approximately $1,968,724.40. The trade was a 57.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,766,910 shares of company stock valued at $3,602,346 in the last quarter. 15.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SES AI

Hedge funds have recently made changes to their positions in the stock. 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 buying an additional 225,299 shares during the last quarter. Anson Funds Management LP acquired a new stake in SES AI during the third quarter worth about $108,000. Barclays PLC raised its holdings in shares of SES AI by 281.1% in the 3rd quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $109,000 after purchasing an additional 126,763 shares during the period. JPMorgan Chase & Co. lifted 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of SES AI by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock worth $1,980,000 after purchasing an additional 83,607 shares during the period. Institutional investors and hedge funds 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.