Temasek Holdings Private Ltd Cuts Holdings in SES AI Corporation $SES

Temasek Holdings Private Ltd lowered its stake in SES AI Corporation (NYSE:SES) by 54.8% during the third quarter, Holdings Channel.com reports. The firm owned 12,675,757 shares of the company’s stock after selling 15,393,562 shares during the quarter. Temasek Holdings Private Ltd’s holdings in SES AI were worth $21,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of SES AI by 21.1% during the third 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 in the last quarter. AQR Capital Management LLC increased its stake in shares of SES AI by 2,314.7% during the first quarter. AQR Capital Management LLC now owns 1,138,003 shares of the company’s stock worth $593,000 after buying an additional 1,090,875 shares during the period. Baird Financial Group Inc. acquired a new stake in SES AI in the second quarter valued at approximately $689,000. XTX Topco Ltd acquired a new stake in SES AI in the second quarter valued at approximately $676,000. Finally, Franklin Resources Inc. purchased a new position in SES AI in the second quarter worth approximately $543,000. Hedge funds and other institutional investors own 29.78% of the company’s stock.

SES AI Stock Performance

SES opened at $1.23 on Friday. SES AI Corporation has a one year low of $0.40 and a one year high of $3.73. The company has a market cap of $447.21 million, a P/E ratio of -5.57 and a beta of 0.62. The business’s 50-day simple moving average is $1.86 and its 200-day simple moving average is $1.94.

SES AI (NYSE:SES) last posted its earnings results on Wednesday, March 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $4.56 million during the quarter, compared to analysts’ expectations of $6.64 million. SES AI had a negative return on equity of 28.19% and a negative net margin of 347.81%. As a group, analysts predict that SES AI Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kyle Pilkington sold 25,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1.20, for a total value of $30,000.00. Following the completion of the transaction, the insider owned 780,203 shares in the company, valued at approximately $936,243.60. This represents a 3.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hong Gan sold 100,000 shares of the stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $2.50, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 1,253,286 shares in the company, valued at $3,133,215. This trade represents a 7.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 375,000 shares of company stock worth $853,000. 13.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of SES AI in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of SES AI in a report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of SES AI from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. 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 an average rating of “Hold” and a consensus price target of $4.00.

SES AI 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.