SES AI (NYSE:SES) Shares Cross Below 50-Day Moving Average – Should You Sell?

SES AI Corporation (NYSE:SES) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $0.70 and traded as low as $0.5783. SES AI shares last traded at $0.5860, with a volume of 40,275,195 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SES. Deutsche Bank set a $1.10 price target on SES AI in a report on Wednesday, August 12th. Weiss Ratings raised shares of SES AI from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1.10.

SES AI Trading Down 34.9%

The company has a market capitalization of $217.58 million, a PE ratio of -2.93 and a beta of 0.98. The stock’s 50-day moving average is $0.70 and its two-hundred day moving average is $0.98.

SES AI (NYSE:SES) last released its earnings results on Thursday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The business had revenue of $6.64 million during the quarter, compared to the consensus estimate of $6.70 million. SES AI had a negative return on equity of 26.21% and a negative net margin of 289.64%. On average, equities research analysts forecast that SES AI Corporation will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On SES AI

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of SES AI by 57.2% during the first quarter. Renaissance Technologies LLC now owns 4,596,252 shares of the company’s stock valued at $4,422,000 after acquiring an additional 1,671,610 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SES AI by 272.5% in the first quarter. Dimensional Fund Advisors LP now owns 943,138 shares of the company’s stock valued at $906,000 after purchasing an additional 689,974 shares during the period. Bank of America Corp DE grew its stake in SES AI by 114.7% in the first quarter. Bank of America Corp DE now owns 610,399 shares of the company’s stock worth $587,000 after purchasing an additional 326,033 shares in the last quarter. Kestra Advisory Services LLC grew its stake in SES AI by 51.3% in the first quarter. Kestra Advisory Services LLC now owns 396,185 shares of the company’s stock worth $381,000 after purchasing an additional 134,300 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new position in SES AI in the first quarter worth approximately $33,000. 29.78% of the stock is owned by hedge funds and other institutional investors.

About SES AI

SES AI Corporation develops rechargeable lithium-metal batteries and artificial intelligence tools for battery development and management. Its work includes designing battery cells and materials intended to support applications that require high energy density, including electric vehicles and aviation. The company also develops its Molecular Universe platform, which uses AI and computational methods to identify and evaluate battery materials. SES AI applies its technology to battery discovery, cell development, safety monitoring and performance analysis.