SEALSQ Corp. (NASDAQ:LAES – Get Free Report) shares were down 13.8% during trading on Friday . The stock traded as low as $3.17 and last traded at $3.1450. Approximately 9,609,536 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 11,100,969 shares. The stock had previously closed at $3.65.
Analyst Ratings Changes
Several analysts have recently weighed in on LAES shares. Wall Street Zen lowered shares of SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Cantor Fitzgerald reduced their target price on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.00.
Get Our Latest Analysis on SEALSQ
SEALSQ Trading Down 12.3%
SEALSQ (NASDAQ:LAES – Get Free Report) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.04) EPS for the quarter. The business had revenue of $6.71 million for the quarter. Analysts forecast that SEALSQ Corp. will post -0.17 EPS for the current fiscal year.
Insider Activity at SEALSQ
In related news, VP Jean-Pierre Enguent sold 15,000 shares of SEALSQ 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 directly owned 15,000 shares in the company, valued at $33,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 SEALSQ stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $3.69, for a total transaction of $36,900.00. Following the sale, the chief financial officer owned 256,156 shares in the company, valued at approximately $945,215.64. This represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,664 shares of company stock worth $440,545 over the last ninety days.
Hedge Funds Weigh In On SEALSQ
A number of hedge funds have recently bought and sold shares of LAES. Anson Funds Management LP purchased a new position in SEALSQ during the 1st quarter worth $32,639,000. UBS Group AG boosted its holdings in shares of SEALSQ by 398.0% in the 4th quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock worth $12,184,000 after buying an additional 2,576,003 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of SEALSQ in the 4th quarter worth about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of SEALSQ in the 1st quarter worth about $1,365,000. Finally, Millennium Management LLC boosted its holdings in shares of SEALSQ by 747.8% in the 3rd quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after buying an additional 433,547 shares during the last quarter. 1.25% of the stock is 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.
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