SEALSQ (NASDAQ:LAES) Sees Large Volume Increase – Time to Buy?

SEALSQ Corp. (NASDAQ:LAES) saw unusually-strong trading volume on Thursday . Approximately 14,739,458 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 9,064,716 shares.The stock last traded at $2.6250 and had previously closed at $2.80.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LAES shares. Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a report on Friday, January 9th. Wall Street Zen cut shares of SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Maxim Group set a $8.00 price target on shares of SEALSQ in a research note on Thursday, January 15th. Cantor Fitzgerald dropped their price target on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Zacks Research upgraded shares of SEALSQ to a “hold” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.00.

SEALSQ Stock Down 1.2%

The business’s fifty day simple moving average is $3.34 and its 200-day simple moving average is $4.32.

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

Insider Transactions at SEALSQ

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

Institutional Investors Weigh In On SEALSQ

Large investors have recently added to or reduced their stakes in the stock. Counterpoint Mutual Funds LLC purchased a new stake in shares of SEALSQ in the 3rd quarter worth approximately $502,000. Tudor Investment Corp ET AL purchased a new stake in shares of SEALSQ in the 3rd quarter worth approximately $955,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of SEALSQ in the 4th quarter worth approximately $53,000. Valmark Advisers Inc. purchased a new stake in shares of SEALSQ in the 4th quarter worth approximately $150,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of SEALSQ in the 4th quarter worth approximately $46,000. 1.25% of the stock is owned by hedge funds and other institutional investors.

About SEALSQ

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.