Sk Inc. Sells 400,000 Shares of SES AI Co. (NYSE:SES) Stock

SES AI Co. (NYSE:SES) major shareholder Sk Inc. sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $0.62, for a total transaction of $248,000.00. Following the sale, the insider now directly owns 39,527,701 shares in the company, valued at $24,507,174.62. The trade was 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 at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction 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 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 transaction of $49,457.40.
• On Friday, October 4th, Sk Inc. sold 100,000 shares of SES AI stock. The stock was sold at an average price of $0.61, for a total transaction 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 transaction of $146,370.60.
• On Monday, September 30th, Sk Inc. sold 71,176 shares of SES AI stock. The stock was sold at an average price of $0.70, for a total transaction of $49,823.20.

SES AI Stock Down 6.6 %

SES AI stock opened at $0.57 on Friday. SES AI Co. has a 12-month low of $0.55 and a 12-month high of $2.57. The firm’s fifty day moving average is $0.86 and its 200 day moving average is $1.14. The company has a market capitalization of $204.03 million, a PE ratio of -3.57 and a beta of 2.39.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings 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. Renaissance Technologies LLC raised its holdings 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. EntryPoint Capital LLC acquired a new position in SES AI during the first quarter worth $88,000. Bank of New York Mellon Corp grew 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 worth $535,000 after acquiring an additional 71,794 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of SES AI by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after acquiring an additional 82,245 shares in the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of SES AI in a research report on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price target on the stock. 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.

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.