SES AI (NYSE:SES) Stock Price Up 8.1% – Should You Buy?

Shares of SES AI Corporation (NYSE:SES) were up 8.1% during trading on Friday . The stock traded as high as $2.36 and last traded at $2.3350. Approximately 6,878,501 shares changed hands during trading, an increase of 14% from the average daily volume of 6,034,579 shares. The stock had previously closed at $2.16.

Analyst Upgrades and Downgrades

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

SES AI Stock Performance

The company’s 50 day moving average is $2.02 and its 200 day moving average is $1.74. The stock has a market capitalization of $850.61 million, a price-to-earnings ratio of -8.32 and a beta of 0.57.

SES AI (NYSE:SES) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $7.12 million during the quarter, compared to analyst estimates of $4.58 million. SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%. On average, equities research analysts anticipate that SES AI Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SES AI news, insider Hong Gan sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $1.90, for a total value of $285,000.00. Following the completion of the sale, the insider owned 1,253,286 shares in the company, valued at approximately $2,381,243.40. This trade represents a 10.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SES AI

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position 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 acquiring an additional 1,927,945 shares in the last quarter. Two Sigma Investments LP lifted its stake in SES AI by 183.3% during the third quarter. Two Sigma Investments LP now owns 1,891,079 shares of the company’s stock worth $3,158,000 after purchasing an additional 1,223,673 shares during the period. AQR Capital Management LLC boosted its holdings in SES AI by 2,314.7% during the first quarter. AQR Capital Management LLC now owns 1,138,003 shares of the company’s stock valued at $593,000 after purchasing an additional 1,090,875 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of SES AI in the 2nd quarter valued at approximately $689,000. Finally, XTX Topco Ltd acquired a new position in shares of SES AI in the 2nd quarter worth approximately $676,000. Institutional investors and hedge funds own 29.78% of the company’s stock.

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.