Shares of SEALSQ Corp. (NASDAQ:LAES – Get Free Report) were up 11.8% during mid-day trading on Monday . The company traded as high as $3.50 and last traded at $3.4650. Approximately 12,454,663 shares changed hands during mid-day trading, an increase of 8% from the average daily volume of 11,484,854 shares. The stock had previously closed at $3.10.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on LAES shares. Cantor Fitzgerald dropped their target price on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Wall Street Zen downgraded SEALSQ from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One equities 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. Based on data from MarketBeat, SEALSQ currently has a consensus rating of “Hold” and a consensus target price of $6.00.
Read Our Latest Report on SEALSQ
SEALSQ Stock Up 8.5%
SEALSQ (NASDAQ:LAES – Get Free Report) last issued its quarterly earnings data 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. As a group, analysts expect that SEALSQ Corp. will post -0.17 EPS for the current fiscal year.
Insider Activity
In other SEALSQ news, CFO John Charles O’hara sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $3.69, for a total value of $36,900.00. Following the completion of the sale, the chief financial officer directly owned 256,156 shares in the company, valued at $945,215.64. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $33,000.00. Following the sale, the vice president directly owned 15,000 shares in the company, valued at approximately $33,000. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 155,664 shares of company stock worth $440,545 in the last quarter.
Institutional Trading of SEALSQ
A number of hedge funds have recently modified their holdings of LAES. Blue Trust Inc. purchased a new stake in shares of SEALSQ in the 4th quarter worth about $26,000. Wells Fargo & Company MN bought a new stake in SEALSQ during the fourth quarter worth about $27,000. IFP Advisors Inc boosted its stake in SEALSQ by 51.7% during the fourth quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock worth $33,000 after acquiring an additional 2,945 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in SEALSQ by 172.2% in the fourth quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock worth $36,000 after purchasing an additional 5,969 shares during the period. Finally, NewEdge Advisors LLC purchased a new stake in SEALSQ in the fourth quarter worth about $40,000. Institutional investors own 1.25% of the company’s stock.
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.
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