SES AI (NYSE:SES) Trading Down 10.3% - Here's Why

SES AI Co. (NYSE:SES - Get Free Report) shares traded down 10.3% during mid-day trading on Friday . The stock traded as low as $1.37 and last traded at $1.39. 4,249,570 shares changed hands during trading, a decline of 84% from the average session volume of 26,826,375 shares. The stock had previously closed at $1.55.

SES AI Price Performance

The stock has a market capitalization of $463.35 million, a P/E ratio of -5.59 and a beta of 0.37. The firm has a 50 day moving average of $0.74 and a 200-day moving average of $0.88.

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 in the prior year, the business earned ($0.04) earnings per share. As a group, equities analysts expect that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Buying and Selling at SES AI

In other news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $0.20, for a total value of $2,666,400.00. Following the transaction, the insider now directly owns 9,843,622 shares of the company's stock, valued at $1,968,724.40. The trade was a 57.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sk Inc. sold 400,000 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $0.60, for a total value of $240,000.00. Following the completion of the transaction, the insider now directly owns 38,762,803 shares in the company, valued at $23,257,681.80. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,282,000 shares of company stock valued at $3,307,400. 15.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in SES AI by 91.6% in the 3rd quarter. SG Americas Securities LLC now owns 66,573 shares of the company's stock worth $43,000 after purchasing an additional 31,832 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of SES AI during the 3rd quarter valued at $28,000. Charles Schwab Investment Management Inc. raised its position in shares of SES AI by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company's stock valued at $744,000 after acquiring an additional 46,778 shares during the last quarter. Renaissance Technologies LLC raised its position 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 valued at $152,000 after acquiring an additional 46,800 shares during the last quarter. Finally, 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 valued at $535,000 after acquiring an additional 71,794 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.