SEALSQ (NASDAQ:LAES) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

SEALSQ (NASDAQ:LAESGet Free Report) issued its earnings results on Friday. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03, reports. The business had revenue of $5.58 million for the quarter, compared to analyst estimates of $11.00 million.

SEALSQ Stock Up 2.3%

Shares of NASDAQ LAES traded up $0.05 during trading hours on Friday, reaching $2.43. The stock had a trading volume of 576,997 shares, compared to its average volume of 12,025,872. The firm has a 50-day moving average of $2.57 and a 200-day moving average of $2.94. SEALSQ has a fifty-two week low of $1.99 and a fifty-two week high of $8.71.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SEALSQ in a report on Tuesday, June 16th. One research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Read Our Latest Report on LAES

Insiders Place Their Bets

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $2.40, for a total transaction of $36,000.00. Following the completion of the sale, the vice president directly owned 15,000 shares of the company’s stock, valued at $36,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 45,000 shares of company stock worth $115,200.

Institutional Investors Weigh In On SEALSQ

A number of institutional investors have recently added to or reduced their stakes in LAES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of SEALSQ in the first quarter valued at approximately $1,365,000. Geode Capital Management LLC lifted its stake in shares of SEALSQ by 383.5% in the second quarter. Geode Capital Management LLC now owns 62,449 shares of the company’s stock valued at $252,000 after purchasing an additional 49,534 shares during the period. WINTON GROUP Ltd purchased a new stake in SEALSQ during the second quarter worth about $76,000. Engineers Gate Manager LP purchased a new stake in SEALSQ during the second quarter worth about $47,000. Finally, Headlands Technologies LLC acquired a new position in SEALSQ during the second quarter worth about $77,000. Hedge funds and other 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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