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 company’s 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 transaction, the insider now directly owns 38,762,803 shares of the company’s stock, valued at approximately $23,257,681.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 Friday, October 11th, Sk Inc. sold 400,000 shares of SES AI stock. The shares were 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 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 stock was sold at an average price of $0.70, for a total value of $49,823.20.

SES AI Stock Performance

Shares of SES AI stock opened at $0.64 on Friday. The business’s 50 day moving average price is $0.85 and its 200 day moving average price is $1.13. The company has a market cap of $228.17 million, a price-to-earnings ratio of -3.99 and a beta of 2.39. SES AI Co. has a one year low of $0.55 and a one year high of $2.57.

SES AI (NYSE:SES) last posted its quarterly earnings results on Monday, July 29th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). During the same period last year, the firm posted ($0.04) earnings per share. On average, analysts predict that SES AI Co. will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On SES AI

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of SES AI by 62.8% during the 2nd 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. Bank of New York Mellon Corp grew its position in SES AI by 20.2% in the second 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 during the period. Vanguard Group Inc. increased its stake 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 acquiring an additional 82,245 shares during the last quarter. Squarepoint Ops LLC raised its position in SES AI by 1,039.9% in the second 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 period. Finally, EntryPoint Capital LLC purchased a new stake in SES AI in the first quarter valued at $88,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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