Short Interest in SES AI Co. (NYSE:SES) Drops By 20.4%

SES AI Co. (NYSE:SES) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 4,140,000 shares, a decline of 20.4% from the October 31st total of 5,200,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 3,710,000 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SES shares. Wolfe Research began coverage on shares of SES AI in a report on Thursday, September 5th. They set an “underperform” rating and a $1.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price target on shares of SES AI in a research report on Tuesday, September 10th.

Insider Activity

In other SES AI news, major shareholder General Motors Holdings Llc sold 13,332,000 shares of SES AI stock in a transaction that occurred 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 sale, the insider now directly owns 9,843,622 shares of the company’s stock, valued at approximately $1,968,724.40. The trade was a 57.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Sk Inc. sold 71,176 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $0.70, for a total value of $49,823.20. Following the completion of the transaction, the insider now directly owns 41,936,583 shares of the company’s stock, valued at approximately $29,355,608.10. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,551,072 shares of company stock worth $5,061,174. Company insiders own 15.07% of the company’s stock.

Institutional Investors Weigh In On SES AI

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in SES AI by 281.1% in the third quarter. Barclays PLC now owns 171,860 shares of the company’s stock worth $109,000 after purchasing an additional 126,763 shares during the period. Geode Capital Management LLC grew its position in shares of SES AI by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock worth $1,980,000 after buying an additional 83,607 shares during the period. Anson Funds Management LP acquired a new stake in shares of SES AI during the 3rd quarter worth approximately $108,000. XTX Topco Ltd bought a new stake in shares of SES AI during the third quarter worth approximately $28,000. Finally, DRW Securities LLC acquired a new position in SES AI in the third quarter valued at approximately $52,000. Institutional investors own 29.78% of the company’s stock.

SES AI Stock Up 7.3 %

Shares of NYSE SES opened at $0.35 on Monday. The company has a market cap of $126.28 million, a price-to-earnings ratio of -1.52 and a beta of 2.43. SES AI has a 12-month low of $0.20 and a 12-month high of $2.44. The firm’s 50-day simple moving average is $0.50 and its 200 day simple moving average is $0.92.

SES AI (NYSE:SES) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). During the same quarter last year, the company earned ($0.04) EPS. On average, equities analysts expect that SES AI will post -0.29 earnings per share for the current year.

SES AI Company 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.