SES AI (NYSE:SES) Issues Earnings Results, Hits Expectations

SES AI (NYSE:SES) announced its quarterly earnings data on Tuesday. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04), FiscalAI reports. SES AI had a negative net margin of 331.72% and a negative return on equity of 28.65%. The business had revenue of $5.07 million for the quarter, compared to analyst estimates of $5.60 million.

SES AI Stock Up 2.1%

Shares of SES stock traded up $0.01 on Tuesday, reaching $0.54. The company’s stock had a trading volume of 14,433,730 shares, compared to its average volume of 10,564,280. The company has a market capitalization of $199.07 million, a P/E ratio of -2.47 and a beta of 1.01. SES AI has a 12-month low of $0.49 and a 12-month high of $3.73. The stock’s 50 day simple moving average is $0.84 and its 200-day simple moving average is $1.18.

Insiders Place Their Bets

In other SES AI news, insider Kyle Pilkington sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $1.20, for a total value of $30,000.00. Following the sale, the insider owned 1,023,548 shares of the company’s stock, valued at $1,228,257.60. This trade represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SES. Invesco Ltd. increased its position in shares of SES AI by 563.9% during the 4th quarter. Invesco Ltd. now owns 6,814,389 shares of the company’s stock valued at $12,266,000 after purchasing an additional 5,788,018 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of SES AI by 3,649.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,924,642 shares of the company’s stock worth $5,264,000 after acquiring an additional 2,846,642 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of SES AI by 2,434.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,850,956 shares of the company’s stock worth $5,132,000 after acquiring an additional 2,738,489 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 valued at $18,509,000 after purchasing an additional 1,927,945 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of SES AI by 150.2% during the 4th quarter. State Street Corp now owns 2,886,991 shares of the company’s stock valued at $5,197,000 after purchasing an additional 1,733,209 shares during the last quarter. 29.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SES. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $1.40 price objective on shares of SES AI in a research note on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a research note on Friday, July 17th. Finally, Wall Street Zen raised SES AI from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.70.

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.