SES AI (NYSE:SES) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of SES AI (NYSE:SES) from a hold rating to a sell rating in a report released on Saturday.

A number of other brokerages also recently commented on SES. Cantor Fitzgerald boosted their target price on SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SES AI in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

SES AI Stock Down 1.7%

SES stock opened at $2.00 on Friday. The company has a 50 day moving average of $2.07 and a two-hundred day moving average of $1.86. The company has a market cap of $728.31 million, a price-to-earnings ratio of -7.13 and a beta of 0.57. SES AI has a 12-month low of $0.38 and a 12-month high of $3.73.

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

Insider Activity

In other news, insider Hong Gan sold 100,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $2.50, for a total transaction of $250,000.00. Following the transaction, the insider owned 1,253,286 shares of the company’s stock, valued at approximately $3,133,215. This represents a 7.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 500,000 shares of company stock worth $1,108,000. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On SES AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SES. Ashton Thomas Private Wealth LLC bought a new position in shares of SES AI in the fourth quarter valued at approximately $38,000. Pictet Asset Management Holding SA acquired a new position in SES AI in the 4th quarter valued at $41,000. Arizona State Retirement System bought a new position in SES AI in the 4th quarter worth $103,000. Gainplan LLC bought a new position in SES AI in the 4th quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in SES AI during the 3rd quarter worth $105,000. Institutional investors and hedge funds own 29.78% of the company’s stock.

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.