SES AI (NYSE:SES) Shares Gap Up - Time to Buy?

SES AI Co. (NYSE:SES - Get Free Report)'s share price gapped up before the market opened 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 traded.

Analysts Set New Price Targets

A number of research firms have commented on SES. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $1.50 price objective on shares of SES AI in a research note on Tuesday, September 10th. Wolfe Research started coverage on SES AI in a report on Thursday, September 5th. They issued an "underperform" rating and a $1.00 target price on the stock.

SES AI Price Performance

The firm has a market capitalization of $811.32 million, a price-to-earnings ratio of -9.78 and a beta of 2.27. The business's 50 day moving average price is $0.64 and its 200-day moving average price is $0.86.

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

Insider Transactions at SES AI

In related news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of SES AI stock in a transaction on 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 completion of the transaction, the insider now directly owns 9,843,622 shares of the company's stock, valued at approximately $1,968,724.40. The trade was a 57.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Jing Nealis sold 150,000 shares of the company's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $1.02, for a total value 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 $1,974,028.44. This trade represents a 7.19 % decrease in their position. 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 ninety days. 15.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SES AI

Institutional investors and hedge funds have recently made changes to their positions in the business. 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 worth $744,000 after acquiring an additional 46,778 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of SES AI by 62.8% during the 2nd quarter. Renaissance Technologies LLC now owns 121,300 shares of the company's stock worth $152,000 after purchasing an additional 46,800 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of SES AI by 20.2% during the 2nd 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 raised its position 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 last quarter. Finally, SG Americas Securities LLC lifted its stake in SES AI by 91.6% in the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company's stock valued at $43,000 after buying an additional 31,832 shares in the last quarter. 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.