SES AI (NYSE:SES) Reaches New 52-Week High – Time to Buy?

SES AI Co. (NYSE:SES)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $2.53 and last traded at $2.37, with a volume of 22460150 shares. The stock had previously closed at $2.25.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.50 target price on shares of SES AI in a research report on Tuesday, September 10th.

SES AI Stock Down 15.9 %

The stock has a 50-day moving average of $0.70 and a 200 day moving average of $0.87. The stock has a market cap of $631.02 million, a PE ratio of -7.61 and a beta of 0.37.

SES AI (NYSE:SES) 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 period last year, the firm posted ($0.04) earnings per share. Research analysts forecast that SES AI Co. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at SES AI

In related news, major shareholder Sk Inc. sold 400,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $0.62, for a total value of $248,000.00. Following the sale, the insider now directly owns 39,527,701 shares in the company, valued at approximately $24,507,174.62. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jing Nealis sold 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $1.02, for a total transaction of $153,000.00. 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. The trade was a 7.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,682,000 shares of company stock worth $3,551,400 in the last ninety days. 15.07% of the stock is owned by insiders.

Institutional Investors Weigh In On SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its holdings in 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 purchasing an additional 225,299 shares during the last quarter. Anson Funds Management LP acquired a new stake in shares of SES AI in the third quarter valued at $108,000. Barclays PLC raised its holdings in shares of SES AI by 281.1% in the 3rd 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. lifted its stake in SES AI by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock worth $117,000 after acquiring an additional 122,803 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SES AI by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after acquiring an additional 83,607 shares during the period. 29.78% of the stock is 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.