SEALSQ Corp. (NASDAQ:LAES – Get Free Report) shares shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $3.43 and last traded at $3.2650. 5,567,492 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 11,807,707 shares. The stock had previously closed at $3.10.
Analysts Set New Price Targets
A number of equities analysts have commented on LAES shares. Wall Street Zen lowered SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday, June 16th. Finally, 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 investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.
Read Our Latest Research Report on SEALSQ
SEALSQ Stock Down 2.5%
SEALSQ (NASDAQ:LAES – Get Free Report) last released its 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. Analysts anticipate that SEALSQ Corp. will post -0.17 EPS for the current year.
Insider Buying and Selling
In other SEALSQ news, CFO John Charles O’hara sold 10,000 shares of SEALSQ stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $3.69, for a total transaction of $36,900.00. Following the completion of the sale, the chief financial officer owned 256,156 shares of the company’s stock, valued at approximately $945,215.64. The trade was a 3.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jean-Pierre Enguent sold 15,000 shares of the company’s stock in a transaction 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 $33,000. The trade was a 50.00% 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. Over the last three months, insiders have sold 120,664 shares of company stock valued at $336,095.
Institutional Investors Weigh In On SEALSQ
A number of institutional investors have recently made changes to their positions in LAES. Blue Trust Inc. bought a new stake in SEALSQ in the fourth quarter valued at about $26,000. Wells Fargo & Company MN bought a new position in SEALSQ during the 4th quarter worth approximately $27,000. IFP Advisors Inc grew its holdings in SEALSQ by 51.7% during the fourth quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock valued at $33,000 after purchasing an additional 2,945 shares during the period. Farther Finance Advisors LLC grew its holdings in SEALSQ by 172.2% during the fourth quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock valued at $36,000 after purchasing an additional 5,969 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in SEALSQ in the fourth quarter valued at approximately $40,000. 1.25% of the stock is owned by institutional investors and hedge funds.
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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