SES AI Corporation (NYSE: SES) experienced notable insider trading activity on November 17, 2023, when Hong Gan, a company insider, sold 150,000 shares of stock. The transaction, valued at $285,000, was executed at an average price of $1.90 per share. Following this sale, Gan retained 1,253,286 shares in SES AI, amounting to a total value of approximately $2,381,243.40, marking a 10.69% reduction in their overall position.
This insider sale was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC), which can be accessed through their official website.
Market Performance and Recent Earnings
On November 18, 2023, SES AI’s stock traded down by $0.04, closing at $1.86. The trading volume reached 7,807,684 shares, significantly below the average volume of 17,479,986 shares. The company’s current market capitalization stands at $678.41 million, with a price-to-earnings ratio of -6.63 and a beta of 0.53. Over the past year, SES AI has fluctuated between a 52-week low of $0.28 and a 52-week high of $3.73.
In its latest quarterly earnings report, released on November 5, 2023, SES AI reported an earnings per share (EPS) of ($0.06), falling short of analysts’ consensus estimate of ($0.05) by $0.01. The company generated revenue of $7.12 million, surpassing expectations of $4.58 million. Despite this revenue growth, SES AI recorded a negative net margin of 490.03% and a negative return on equity of 35.31%. Looking ahead, SES AI has set its guidance for fiscal year 2025 at an EPS of (-0.23).
Institutional Investor Activity
Recently, several hedge funds have adjusted their holdings in SES AI. Raymond James Financial Inc. increased its position by 35.1% during the third quarter, acquiring an additional 5,268 shares to hold a total of 20,268 shares valued at approximately $34,000. Similarly, Verdence Capital Advisors LLC raised its stake by 42.9%, amassing 20,000 shares worth $33,000 after purchasing 6,000 shares.
Other notable changes include Savant Capital LLC, which boosted its holdings by 32.1%, now owning 58,118 shares valued at $52,000, and Sitrin Capital Management LLC, which increased its position by 50.0%, holding 60,000 shares worth $53,000. Additionally, Vanguard Personalized Indexing Management LLC enhanced its stake by 136.5%, now owning 38,006 shares valued at $34,000.
Institutional investors and hedge funds collectively own 29.78% of SES AI’s stock, reflecting significant interest in the company as it develops advanced lithium-metal rechargeable batteries for various applications, including electric vehicles.
Founded in 2012, SES AI Corporation is headquartered in Woburn, Massachusetts, and continues to focus on innovative battery technology in a rapidly evolving market.
