SEALSQ (NASDAQ:LAES) Trading Down 6.9% – Time to Sell?

SEALSQ Corp. (NASDAQ:LAESGet Free Report) shares fell 6.9% on Wednesday . The company traded as low as $3.25 and last traded at $3.3140. 7,023,831 shares were traded during mid-day trading, a decline of 33% from the average session volume of 10,465,919 shares. The stock had previously closed at $3.56.

Analysts Set New Price Targets

A number of research firms have weighed in on LAES. Wall Street Zen cut shares of SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. 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. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SEALSQ presently has an average rating of “Hold” and an average price target of $6.00.

Read Our Latest Stock Report on LAES

SEALSQ Stock Performance

The stock’s 50 day moving average is $2.83 and its 200 day moving average is $3.74.

SEALSQ (NASDAQ:LAESGet Free Report) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.04) EPS for the quarter. The company had revenue of $6.71 million for the quarter. As a group, research analysts predict that SEALSQ Corp. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $2.20, for a total transaction of $33,000.00. Following the sale, the vice president owned 15,000 shares of the company’s stock, valued at approximately $33,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing 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 that occurred on Wednesday, April 22nd. The stock was sold at an average price of $3.06, for a total transaction of $30,600.00. Following the sale, the chief financial officer directly owned 296,095 shares in the company, valued at $906,050.70. This trade represents a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 125,250 shares of company stock worth $331,928 in the last ninety days.

Institutional Trading of SEALSQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Anson Funds Management LP bought a new stake in SEALSQ during the 1st quarter worth approximately $32,639,000. State of Wyoming increased its holdings in SEALSQ by 458.0% during the 1st quarter. State of Wyoming now owns 34,636 shares of the company’s stock worth $91,000 after acquiring an additional 28,429 shares during the period. Bank of New York Mellon Corp bought a new stake in SEALSQ during the 1st quarter worth approximately $309,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in SEALSQ by 104.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 28,570 shares of the company’s stock worth $75,000 after acquiring an additional 14,570 shares during the period. Finally, True Vision MN LLC increased its holdings in SEALSQ by 240.9% during the 1st quarter. True Vision MN LLC now owns 85,124 shares of the company’s stock worth $223,000 after acquiring an additional 60,150 shares during the period. Institutional investors own 1.25% of the company’s stock.

About SEALSQ

(Get Free Report)

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.

Further Reading

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