SES AI (NYSE:SES) Stock Price Up 9.7% on Strong Earnings

SES AI Corporation (NYSE:SES)’s share price was up 9.7% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $1.72 and last traded at $1.6999. Approximately 3,881,055 shares traded hands during trading, a decline of 44% from the average daily volume of 6,881,857 shares. The stock had previously closed at $1.55.

The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.56 million for the quarter, compared to analyst estimates of $6.64 million. SES AI had a negative net margin of 347.81% and a negative return on equity of 27.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen lowered SES AI from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of SES AI in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SES AI currently has a consensus rating of “Hold” and an average target price of $4.00.

Insider Activity

In other news, insider Hong Gan sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $2.50, for a total value of $250,000.00. Following the completion of the transaction, the insider owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 350,000 shares of company stock worth $823,000 over the last 90 days. 13.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SES AI

A number of hedge funds have recently added to or reduced their stakes in the business. Gainplan LLC acquired a new position in shares of SES AI in the fourth quarter worth $30,000. Hudson Bay Capital Management LP purchased a new position in SES AI in the second quarter valued at $31,000. Verdence Capital Advisors LLC boosted its holdings in SES AI by 42.9% in the third 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 during the period. Raymond James Financial Inc. grew its stake in SES AI by 35.1% during the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock worth $34,000 after purchasing an additional 5,268 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in SES AI during the 4th quarter worth about $38,000. 29.78% of the stock is currently owned by institutional investors and hedge funds.

SES AI Stock Performance

The business has a 50-day simple moving average of $1.94 and a 200-day simple moving average of $1.94. The company has a market cap of $396.10 million, a price-to-earnings ratio of -4.93 and a beta of 0.62.

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.