SES AI Co. (NYSE:SES) Major Shareholder Sk Inc. Sells 400,000 Shares

SES AI Co. (NYSE:SES) 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 sale, the insider now owns 38,762,803 shares of the company’s stock, valued at $23,257,681.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Sk Inc. also recently made the following trade(s):

• On Monday, October 14th, Sk Inc. sold 400,000 shares of SES AI stock. The stock was sold at an average price of $0.62, for a total transaction of $248,000.00.
• On Friday, October 11th, Sk Inc. sold 400,000 shares of SES AI stock. The shares were sold at an average price of $0.61, for a total transaction of $244,000.00.
• On Wednesday, October 9th, Sk Inc. sold 2,481 shares of SES AI stock. The shares were sold at an average price of $0.60, for a total transaction of $1,488.60.
• On Monday, October 7th, Sk Inc. sold 82,429 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total value of $49,457.40.
• On Friday, October 4th, Sk Inc. sold 100,000 shares of SES AI stock. The shares were sold at an average price of $0.61, for a total value of $61,000.00.
• On Wednesday, October 2nd, Sk Inc. sold 243,951 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total value of $146,370.60.
• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The shares were sold at an average price of $0.70, for a total value of $49,823.20.

SES AI Stock Performance

NYSE SES opened at $0.64 on Friday. SES AI Co. has a fifty-two week low of $0.55 and a fifty-two week high of $2.57. The stock has a market cap of $228.17 million, a P/E ratio of -3.99 and a beta of 2.39. The stock has a 50 day simple moving average of $0.85 and a two-hundred day simple moving average of $1.14.

SES AI (NYSE:SES) last released its quarterly earnings results on Monday, July 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same quarter last year, the company posted ($0.04) EPS. Sell-side analysts predict that SES AI Co. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

SES has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 target price on shares of SES AI in a research note on Tuesday, September 10th. Wolfe Research initiated coverage on shares of SES AI in a research report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective on the stock.

Hedge Funds Weigh In On SES AI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its position in 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 in the last quarter. Bank of New York Mellon Corp lifted 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 purchasing an additional 71,794 shares during the period. Vanguard Group Inc. boosted its position in shares of SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after purchasing an additional 82,245 shares in the last quarter. Squarepoint Ops LLC grew its stake in SES AI by 1,039.9% in the second 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. Finally, EntryPoint Capital LLC bought a new position in SES AI in the first quarter worth $88,000. Hedge funds and other institutional investors own 29.78% of the company’s stock.

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.