SEALSQ (NASDAQ:LAES) Shares Gap Up – Still a Buy?

SEALSQ Corp. (NASDAQ:LAES) gapped up prior to trading on Wednesday . The stock had previously closed at $2.59, but opened at $2.81. SEALSQ shares last traded at $2.8550, with a volume of 14,956,703 shares.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LAES. Maxim Group set a $8.00 price target on SEALSQ in a report on Thursday, January 15th. Wall Street Zen downgraded SEALSQ from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Cantor Fitzgerald lowered their price target on SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Zacks Research raised SEALSQ to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.00.

SEALSQ Stock Up 8.7%

The firm has a 50 day moving average price of $3.36 and a 200-day moving average price of $4.33.

SEALSQ (NASDAQ:LAES) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $6.71 million during the quarter.

Insider Activity

In other news, CFO John Charles O’hara sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $2.92, for a total value of $29,200.00. Following the completion of the transaction, the chief financial officer directly owned 165,183 shares in the company, valued at $482,334.36. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jean-Pierre Enguent sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $2.20, for a total value of $33,000.00. Following the completion of the transaction, the vice president owned 15,000 shares of the company’s stock, valued at approximately $33,000. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 90,000 shares of company stock valued at $231,250.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. UBS Group AG raised its stake in shares of SEALSQ by 398.0% in the fourth quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock worth $12,184,000 after purchasing an additional 2,576,003 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in SEALSQ during the fourth quarter valued at approximately $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SEALSQ by 11.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company’s stock valued at $2,357,000 after acquiring an additional 59,902 shares in the last quarter. Millennium Management LLC raised its position in SEALSQ by 747.8% during the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock valued at $1,838,000 after acquiring an additional 433,547 shares in the last quarter. Finally, Kessler Investment Group LLC purchased a new position in SEALSQ during the fourth quarter valued at approximately $1,287,000. 1.25% of the stock is currently owned by hedge funds and other institutional investors.

SEALSQ Company Profile

SEALSQ Corp, together with its subsidiaries, designs, develops, and markets semiconductor chips in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. It offers semiconductors, such as VaultIC secure elements, secure arm platform, and smart card reader chips; identity provisioning services, such as IoT device provisioning and chip provisioning; and managed PKI for IoT solutions and trust services. The company provides device-to-cloud authentication, device attestation for matter, GSMA root certificate, device-to-device authentication, data protection, anti-counterfeiting and brand protection, security access, device ID provisioning, identity lifecycle management, and satellite IoT connectivity solutions.