SES AI (NYSE:SES) Shares Down 6.1%

Shares of SES AI Co. (NYSE:SES) traded down 6.1% during mid-day trading on Tuesday . The company traded as low as $1.60 and last traded at $1.62. 141,875 shares changed hands during trading, a decline of 75% from the average session volume of 567,747 shares. The stock had previously closed at $1.72.

SES AI Stock Performance

The business has a 50 day moving average price of $1.53 and a 200-day moving average price of $1.80.

SES AI (NYSE:SES) last issued its earnings results on Monday, February 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. During the same period in the previous year, the company earned ($0.05) EPS. As a group, research analysts anticipate that SES AI Co. will post -0.24 earnings per share for the current year.

Insider Transactions at SES AI

In related news, insider Hong Gan sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.38, for a total value of $34,500.00. Following the completion of the transaction, the insider now directly owns 451,273 shares of the company’s stock, valued at approximately $622,756.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 75,000 shares of company stock valued at $116,750. Corporate insiders own 15.39% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in SES AI in the 1st quarter valued at approximately $31,000. Credit Suisse AG raised its holdings in shares of SES AI by 6.0% in the fourth quarter. Credit Suisse AG now owns 64,718 shares of the company’s stock worth $204,000 after acquiring an additional 3,680 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in shares of SES AI in the first quarter worth $37,000. Royal Bank of Canada acquired a new position in shares of SES AI in the first quarter worth $52,000. Finally, Legal & General Group Plc raised its holdings in shares of SES AI by 29.3% in the fourth quarter. Legal & General Group Plc now owns 29,640 shares of the company’s stock worth $93,000 after acquiring an additional 6,724 shares during the last quarter. 29.78% of the stock is owned by hedge funds and other 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.