11 Best Penny Stocks to Invest in Under $1

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6. SES AI Corp. (NYSE:SES)

Share Price as of April 10: $0.56

Number of Hedge Fund Holders: 14

SES AI Corp. (NYSE:SES) develops and produces AI-enhanced lithium metal and lithium-ion rechargeable battery technologies for EVs, urban air mobility, drones, robotics, battery energy storage systems, and other applications. It manufactures and sells li-metal battery cells and battery materials, which include electrolytes for automotive OEMs.

The company reported its first revenue of $2 million in Q4 2024 with a 63% gross margin. This came from contracts to develop AI-enhanced lithium-metal and lithium-ion batteries for EVs and initial deliveries of lithium-metal cells for drone applications. The company secured contracts that total up to $10 million to develop AI-enhanced batteries for EVs.

Its AI-enhanced 2170 cylindrical cells, which are developed using the Molecular Universe platform, are being adopted in the UAM sector. There are significant purchase orders from Data Blanket for drones and SoftBank for HAPS communication satellites. SES AI Corp. (NYSE:SES) now anticipates 2025 revenue to be between $15 and $25 million.

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