SES AI (NYSE:SES) Shares Gap Up – Time to Buy?

Shares of SES AI Corporation (NYSE:SES) gapped up prior to trading on Thursday . The stock had previously closed at $2.36, but opened at $2.48. SES AI shares last traded at $2.5440, with a volume of 4,522,438 shares trading hands.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of SES AI from a “sell” rating to a “hold” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a report on Wednesday. Finally, Cantor Fitzgerald increased their target price on shares of SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.00.

SES AI Stock Performance

The company has a market cap of $874.34 million, a PE ratio of -8.55 and a beta of 0.57. The stock’s 50-day simple moving average is $2.03 and its 200 day simple moving average is $1.80.

SES AI (NYSE:SES) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $7.12 million during the quarter, compared to analysts’ expectations of $4.58 million. SES AI had a negative net margin of 490.03% and a negative return on equity of 35.31%. On average, sell-side analysts predict that SES AI Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at SES AI

In other news, insider Hong Gan sold 150,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $1.90, for a total transaction of $285,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares of the company’s stock, valued at approximately $2,381,243.40. This represents a 10.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 500,000 shares of company stock worth $1,108,000. Insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of SES AI by 21.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,083,010 shares of the company’s stock worth $18,509,000 after buying an additional 1,927,945 shares during the last quarter. Two Sigma Investments LP grew its stake in SES AI by 183.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,891,079 shares of the company’s stock valued at $3,158,000 after acquiring an additional 1,223,673 shares during the last quarter. AQR Capital Management LLC increased its holdings in SES AI by 2,314.7% during the 1st quarter. AQR Capital Management LLC now owns 1,138,003 shares of the company’s stock valued at $593,000 after acquiring an additional 1,090,875 shares in the last quarter. Baird Financial Group Inc. purchased a new position in SES AI during the 2nd quarter valued at about $689,000. Finally, XTX Topco Ltd acquired a new position in SES AI during the second quarter worth about $676,000. 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.