Wall Street Zen Downgrades SES AI (NYSE:SES) to Sell

Wall Street Zen lowered shares of SES AI (NYSE:SES) from a hold rating to a sell rating in a research report sent to investors on Sunday.

Separately, Cantor Fitzgerald began coverage on SES AI in a report on Tuesday, May 20th. They issued an “overweight” rating and a $2.00 price objective for the company.

SES AI Trading Down 6.6%

Shares of NYSE SES opened at $0.98 on Friday. SES AI has a 12 month low of $0.20 and a 12 month high of $2.53. The stock has a 50 day moving average of $0.82 and a 200-day moving average of $0.85. The company has a market capitalization of $359.88 million, a P/E ratio of -4.27 and a beta of 0.41.

SES AI (NYSE:SES) last issued its earnings results on Thursday, April 24th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $5.79 million for the quarter, compared to the consensus estimate of $2.00 million. Analysts predict that SES AI will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On SES AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC increased its stake in shares of SES AI by 94.1% in the 4th quarter. Cresset Asset Management LLC now owns 20,288 shares of the company’s stock valued at $44,000 after purchasing an additional 9,838 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in shares of SES AI in the 4th quarter valued at $25,000. CIBC Asset Management Inc bought a new position in shares of SES AI in the 4th quarter valued at $25,000. ProShare Advisors LLC increased its stake in shares of SES AI by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 36,677 shares of the company’s stock valued at $80,000 after purchasing an additional 12,068 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of SES AI in the 4th quarter valued at $27,000. 29.78% of the stock is owned by institutional investors and hedge funds.

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.