Insider Selling: SES AI Co. (NYSE:SES) Major Shareholder Sells 400,000 Shares of Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 400,000 shares of the 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 sale, the insider now owns 38,762,803 shares in the company, valued at approximately $23,257,681.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 value of $248,000.00.
• On Friday, October 11th, Sk Inc. sold 400,000 shares of SES AI stock. The stock was sold at an average price of $0.61, for a total value of $244,000.00.
• On Wednesday, October 9th, Sk Inc. sold 2,481 shares of SES AI stock. The stock was sold at an average price of $0.60, for a total value 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 shares were 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 Trading Up 11.8 %

Shares of NYSE:SES traded up $0.07 during midday trading on Friday, hitting $0.64. The company had a trading volume of 5,485,036 shares, compared to its average volume of 1,147,040. SES AI Co. has a 12 month low of $0.55 and a 12 month high of $2.57. The stock has a market cap of $228.17 million, a price-to-earnings ratio of -3.99 and a beta of 2.39. The firm has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $1.14.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on SES. Wolfe Research began coverage on SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $1.50 price target on shares of SES AI in a research report on Tuesday, September 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of SES AI by 0.7% in the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after acquiring an additional 82,245 shares during the last quarter. Bank of New York Mellon Corp increased its position in SES AI by 20.2% during the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock worth $535,000 after buying an additional 71,794 shares during the last quarter. Squarepoint Ops LLC increased its position in SES AI by 1,039.9% during the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after buying an additional 225,299 shares during the last quarter. Renaissance Technologies LLC increased its position in SES AI by 62.8% during the second quarter. Renaissance Technologies LLC now owns 121,300 shares of the company’s stock worth $152,000 after buying an additional 46,800 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in SES AI by 91.6% during the third quarter. SG Americas Securities LLC now owns 66,573 shares of the company’s stock worth $43,000 after buying an additional 31,832 shares during the last quarter. 29.78% of the stock is currently owned by 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.