Short Interest in SES AI Co. (NYSE:SES) Drops By 26.2%

SES AI Co. (NYSE:SES - Get Free Report) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 5,480,000 shares, a decrease of 26.2% from the September 15th total of 7,430,000 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 1,960,000 shares, the short-interest ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

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

SES AI Stock Performance

Shares of SES traded up $0.06 during mid-day trading on Friday, hitting $0.63. 4,192,747 shares of the company were exchanged, compared to its average volume of 1,095,528. SES AI has a 1-year low of $0.55 and a 1-year high of $2.57. The company has a 50 day moving average of $0.88 and a 200-day moving average of $1.17. The stock has a market cap of $223.93 million, a price-to-earnings ratio of -3.48 and a beta of 2.39.

SES AI (NYSE:SES - Get Free Report) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same quarter in the prior year, the firm earned ($0.04) EPS. Research analysts anticipate that SES AI will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Holdings (Private) Ltd Temasek sold 1,000,000 shares of SES AI stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $0.87, for a total transaction of $870,000.00. Following the completion of the transaction, the insider now directly owns 3,018,044 shares of the company's stock, valued at $2,625,698.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Sk Inc. sold 243,951 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $0.60, for a total value of $146,370.60. Following the completion of the sale, the insider now directly owns 40,784,454 shares in the company, valued at $24,470,672.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings (Private) Ltd Temasek sold 1,000,000 shares of SES AI stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $0.87, for a total transaction of $870,000.00. Following the completion of the sale, the insider now directly owns 3,018,044 shares in the company, valued at $2,625,698.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,073,348 shares of company stock worth $1,718,737. Corporate insiders own 15.07% of the company's stock.

Institutional Trading of SES AI

Several large investors have recently bought and sold shares of SES. Vanguard Group Inc. grew its stake in SES AI by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company's stock valued at $19,875,000 after acquiring an additional 82,245 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of SES AI in the 1st quarter valued at approximately $88,000. Bank of New York Mellon Corp grew its stake in shares of SES AI by 20.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company's stock valued at $535,000 after buying an additional 71,794 shares during the period. Renaissance Technologies LLC grew its stake in shares of SES AI by 62.8% in the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company's stock valued at $152,000 after buying an additional 46,800 shares during the period. Finally, Squarepoint Ops LLC grew its stake 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 buying an additional 225,299 shares during the period. Hedge funds and other 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.