SES AI Co. (NYSE:SES) Sees Large Increase in Short Interest

SES AI Co. (NYSE:SES - Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 17,700,000 shares, an increase of 173.1% from the December 31st total of 6,480,000 shares. Currently, 9.9% of the shares of the company are sold short. Based on an average daily trading volume, of 12,410,000 shares, the short-interest ratio is currently 1.4 days.

SES AI Stock Performance

Shares of SES AI stock traded up $0.14 during trading on Friday, hitting $1.19. 24,939,062 shares of the company's stock were exchanged, compared to its average volume of 40,246,056. The stock has a market capitalization of $427.29 million, a price-to-earnings ratio of -5.15 and a beta of 0.37. The business has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $0.85. SES AI has a 52-week low of $0.20 and a 52-week high of $2.53.

SES AI (NYSE:SES - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.04). During the same quarter last year, the firm posted ($0.04) earnings per share. On average, equities analysts anticipate that SES AI will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jing Nealis sold 50,000 shares of the firm's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $1.02, for a total value of $51,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,935,322 shares in the company, valued at $1,974,028.44. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $0.20, for a total value of $2,666,400.00. Following the completion of the sale, the insider now owns 9,843,622 shares in the company, valued at approximately $1,968,724.40. This represents a 57.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,532,000 shares of company stock valued at $2,870,400. Insiders own 15.07% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC grew its stake 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 purchasing an additional 225,299 shares during the period. Anson Funds Management LP purchased a new stake in SES AI during the third quarter worth $108,000. Barclays PLC grew its position in SES AI by 281.1% during the third quarter. Barclays PLC now owns 171,860 shares of the company's stock valued at $109,000 after buying an additional 126,763 shares during the period. JPMorgan Chase & Co. increased its holdings in SES AI by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company's stock valued at $117,000 after buying an additional 122,803 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company's stock worth $1,980,000 after acquiring an additional 83,607 shares during the period. 29.78% of the stock is currently 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.