SES AI (NYSE:SES) Announces Quarterly Earnings Results, Meets Estimates

SES AI (NYSE:SESGet Free Report) released its earnings results on Tuesday. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04), FiscalAI reports. SES AI had a negative return on equity of 28.65% and a negative net margin of 331.72%.The firm had revenue of $5.07 million for the quarter, compared to analyst estimates of $5.60 million.

SES AI Stock Performance

Shares of SES stock traded up $0.01 during trading on Tuesday, hitting $0.54. 14,417,421 shares of the company were exchanged, compared to its average volume of 10,564,280. The business’s 50-day simple moving average is $0.84 and its 200 day simple moving average is $1.18. SES AI has a twelve month low of $0.49 and a twelve month high of $3.73. The firm has a market capitalization of $199.07 million, a price-to-earnings ratio of -2.47 and a beta of 1.01.

Analyst Ratings Changes

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

View Our Latest Stock Analysis on SES AI

Insider Activity at SES AI

In other SES AI news, insider Kyle Pilkington sold 25,000 shares of the business’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 transaction, the insider owned 1,023,548 shares in the company, valued at $1,228,257.60. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.80% of the stock is currently owned by corporate insiders.

Institutional Trading of SES AI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in 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 period. Renaissance Technologies LLC increased its position in SES AI by 3,649.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,924,642 shares of the company’s stock worth $5,264,000 after buying an additional 2,846,642 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 2,738,489 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of SES AI by 21.1% in the third 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 during the period. Finally, State Street Corp grew its stake in shares of SES AI by 150.2% in the fourth quarter. State Street Corp now owns 2,886,991 shares of the company’s stock worth $5,197,000 after acquiring an additional 1,733,209 shares during the last quarter. Institutional investors and hedge funds own 29.78% of the company’s stock.

About SES AI

(Get Free Report)

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.

See Also

Earnings History for SES AI (NYSE:SES)

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