SES AI (NYSE:SES) Stock Price Down 6.1%

SES AI Co. (NYSE:SES) shares were down 6.1% during mid-day trading on Tuesday . The stock traded as low as $1.60 and last traded at $1.62. Approximately 141,875 shares traded hands during trading, a decline of 75% from the average daily volume of 567,747 shares. The stock had previously closed at $1.72.

Wall Street Analysts Forecast Growth

Separately, William Blair started coverage on shares of SES AI in a report on Monday, December 18th. They set a “market perform” rating for the company.

SES AI Trading Down 8.7 %

The firm’s fifty day moving average price is $1.52 and its 200-day moving average price is $1.81.

SES AI (NYSE:SES) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. During the same quarter in the prior year, the firm earned ($0.05) EPS. Sell-side analysts expect that SES AI Co. will post -0.24 EPS for the current year.

Insider Activity at SES AI

In related news, insider Hong Gan sold 25,000 shares of SES AI stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $1.69, for a total transaction of $42,250.00. Following the sale, the insider now directly owns 875,001 shares in the company, valued at $1,478,751.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 75,000 shares of company stock worth $116,750 over the last ninety days. 15.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SES AI

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC bought a new stake in SES AI in the first quarter worth about $31,000. Credit Suisse AG raised its position in SES AI by 6.0% in the fourth quarter. Credit Suisse AG now owns 64,718 shares of the company’s stock worth $204,000 after acquiring an additional 3,680 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in SES AI in the first quarter worth about $37,000. Royal Bank of Canada purchased a new position in SES AI in the 1st quarter worth about $52,000. Finally, Legal & General Group Plc increased its stake in SES AI by 29.3% in the 4th quarter. Legal & General Group Plc now owns 29,640 shares of the company’s stock worth $93,000 after purchasing an additional 6,724 shares in the last quarter. 29.78% of the stock is currently owned by institutional investors.

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.