SES AI Co. (NYSE:SES) Major Shareholder General Motors Holdings Llc Sells 13,332,000 Shares

SES AI Co. (NYSE:SES) major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $0.20, for a total transaction of $2,666,400.00. Following the completion of the sale, the insider now owns 9,843,622 shares of the company’s stock, valued at $1,968,724.40. This trade represents a 57.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

SES AI Trading Up 12.9 %

Shares of SES opened at $0.32 on Wednesday. The firm has a market capitalization of $115.93 million, a P/E ratio of -1.40 and a beta of 2.43. The firm’s 50-day moving average is $0.60 and its two-hundred day moving average is $0.98. SES AI Co. has a twelve month low of $0.20 and a twelve month high of $2.57.

SES AI (NYSE:SES) last posted its earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period in the prior year, the firm posted ($0.04) earnings per share. Analysts predict that SES AI Co. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On SES AI

Several hedge funds have recently added to or reduced their stakes in SES. Squarepoint Ops LLC grew its position in shares of 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 last quarter. Anson Funds Management LP purchased a new position in SES AI during the third quarter worth $108,000. Barclays PLC lifted its position in shares of SES AI by 281.1% in the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock valued at $109,000 after acquiring an additional 126,763 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of SES AI by 2.8% in the third quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after acquiring an additional 83,607 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of SES AI by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,830,407 shares of the company’s stock valued at $19,875,000 after acquiring an additional 82,245 shares during the last quarter. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on SES. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $1.50 price objective on shares of SES AI in a report on Tuesday, September 10th. Wolfe Research began coverage on SES AI in a research note on Thursday, September 5th. They issued an “underperform” rating and a $1.00 price target on the stock.

About SES AI

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.