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 stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $0.61, for a total transaction of $244,000.00. Following the transaction, the insider now owns 39,927,701 shares in the company, valued at approximately $24,355,897.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock 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 transaction of $248,000.00.
• 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 shares were 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 shares were 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 Up 2.3 %

SES opened at $0.61 on Thursday. The company has a market cap of $217.88 million, a price-to-earnings ratio of -3.81 and a beta of 2.39. SES AI Co. has a 52-week low of $0.55 and a 52-week high of $2.57. The firm’s fifty day simple moving average is $0.86 and its two-hundred day simple moving average is $1.15.

SES AI (NYSE:SES) last posted 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 period in the previous year, the firm earned ($0.04) EPS. On average, research analysts forecast that SES AI Co. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On SES AI

Several hedge funds and other institutional investors have recently modified their holdings of the business. 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 purchasing an additional 46,800 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 purchasing an additional 71,794 shares during the last quarter. Vanguard Group Inc. increased its position in SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock worth $19,875,000 after purchasing an additional 82,245 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 purchasing an additional 225,299 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in SES AI during the first quarter worth about $88,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SES. Wolfe Research assumed coverage on shares of SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $1.50 price target on shares of SES AI in a 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.