In recent trading activity, SK Inc., a significant shareholder of SES AI Corp (NASDAQ:NYSE:SES), executed stock sales amounting to $11,880. The transactions took place over two days, on October 30 and 31, 2024.
The first sale involved 19,250 shares at a price of $0.56 per share, while the second sale included 2,200 shares at $0.50 per share. Following these transactions, SK Inc. retains ownership of 35,848,878 shares of SES AI Corp, which includes 3,829,028 Earn-Out Shares.
These transactions were reported in a recent SEC filing, providing investors with insights into SK Inc.'s current holdings in the company.
In other recent news, SES AI reveals substantial progress in its lithium metal battery technology and AI solutions. The company completed vital safety tests for its 100 mPOWER lithium metal B-sample cells, and established supply agreements, including one with SoftBank (TYO:9984), that are projected to generate revenue. A key financial update includes a robust balance sheet through 2028, with $274 million in liquidity at the end of Q3, and GAAP operating expenses for that quarter totaling $34.2 million.
The company is leveraging AI to enhance battery cycle life by 20% and is planning to develop a new electrolyte every six months. Additionally, a new 30 mPOWER cell tailored for Urban Air Mobility (UAM) applications has been introduced, offering significant power density advantages.
These are recent developments, and contracts for AI-accelerated battery material discovery are anticipated in Q4 2024. The company's focus on talent acquisition and GPU resources remains a priority while it continues to benefit from the rapidly growing UAM market in China.
InvestingPro Insights
The recent stock sales by SK Inc. come at a time when SES AI Corp (NASDAQ:SES) is facing significant market challenges. According to InvestingPro data, SES's stock has experienced a substantial decline, with a 1-year price total return of -74.69% as of the latest available data. This downward trend is further emphasized by the stock trading at just 17.24% of its 52-week high.
InvestingPro Tips highlight that SES is currently trading at a low Price / Book multiple of 0.49, which could potentially indicate undervaluation. However, this should be considered alongside the company's financial performance. The company is not profitable over the last twelve months, with an adjusted operating income of -$83.17 million for the same period.
It's worth noting that SES holds more cash than debt on its balance sheet, which provides some financial flexibility. Nevertheless, the company is quickly burning through cash, which may be a concern for investors considering the current market conditions.
For readers interested in a more comprehensive analysis, InvestingPro offers 20 additional tips for SES, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.