SES AI (NYSE:SES) Coverage Initiated by Analysts at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald began coverage on shares of SES AI (NYSE:SES) in a note issued to investors on Tuesday, MarketBeat reports. The firm set an “overweight” rating and a $2.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 132.80% from the stock’s previous close.

SES AI Stock Performance

SES AI stock opened at $0.86 on Tuesday. The company has a market capitalization of $315.16 million, a PE ratio of -3.74 and a beta of 0.45. The company has a 50 day moving average price of $0.70 and a 200-day moving average price of $0.78. SES AI has a fifty-two week low of $0.20 and a fifty-two week high of $2.53.

SES AI (NYSE:SES) last issued its earnings results on Thursday, April 24th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $5.79 million for the quarter, compared to the consensus estimate of $2.00 million. On average, analysts forecast that SES AI will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On SES AI

Several large investors have recently modified their holdings of SES. Brevan Howard Capital Management LP purchased a new position in SES AI during the fourth quarter valued at approximately $25,000. CIBC Asset Management Inc purchased a new stake in shares of SES AI during the 4th quarter worth $25,000. Optas LLC bought a new stake in SES AI during the fourth quarter valued at about $27,000. Cibc World Markets Corp bought a new position in SES AI in the fourth quarter worth about $27,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of SES AI during the fourth quarter valued at about $30,000. 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.