SES AI Corporation (NYSE:SES) Sees Large Growth in Short Interest

SES AI Corporation (NYSE:SES) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 8,755,124 shares, an increase of 66.0% from the November 30th total of 5,273,211 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 7,157,666 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 7,157,666 shares, the short-interest ratio is presently 1.2 days. Currently, 2.8% of the company’s shares are short sold.

Insider Buying and Selling

In other SES AI news, insider Hong Gan sold 150,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $1.90, for a total value of $285,000.00. Following the sale, the insider owned 1,253,286 shares in the company, valued at approximately $2,381,243.40. The trade was a 10.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several institutional investors and hedge funds have recently bought and sold shares of SES. Voya Investment Management LLC bought a new position in shares of SES AI in the first quarter valued at approximately $31,000. Hudson Bay Capital Management LP bought a new position in SES AI in the 2nd quarter valued at $31,000. Verdence Capital Advisors LLC grew its position in shares of SES AI by 42.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 20,000 shares of the company’s stock valued at $33,000 after purchasing an additional 6,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of SES AI by 136.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 38,006 shares of the company’s stock worth $34,000 after purchasing an additional 21,934 shares during the period. Finally, Raymond James Financial Inc. raised its position in shares of SES AI by 35.1% in the third quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock worth $34,000 after buying an additional 5,268 shares in the last quarter. 29.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SES shares. Cantor Fitzgerald upped their price target on SES AI from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.00.

SES AI Trading Down 1.3%

Shares of SES stock traded down $0.03 during trading on Tuesday, hitting $1.89. The company’s stock had a trading volume of 2,921,747 shares, compared to its average volume of 16,202,671. The company has a market cap of $688.16 million, a PE ratio of -6.73 and a beta of 0.56. The business has a fifty day moving average of $2.09 and a 200-day moving average of $1.64. SES AI has a 52 week low of $0.38 and a 52 week high of $3.73.

SES AI (NYSE:SES) last posted its quarterly earnings data 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). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The business had revenue of $7.12 million during the quarter, compared to analysts’ expectations of $4.58 million. As a group, research analysts predict that SES AI will post -0.23 EPS for the current year.

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.