SEALSQ (NASDAQ:LAES) Shares Gap Down – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES)’s share price gapped down before the market opened on Monday . The stock had previously closed at $3.86, but opened at $3.55. SEALSQ shares last traded at $3.35, with a volume of 7,957,323 shares traded.

Analysts Set New Price Targets

LAES has been the topic of several research analyst reports. Maxim Group set a $8.00 price objective on SEALSQ in a research note on Thursday, January 15th. Cantor Fitzgerald assumed coverage on SEALSQ in a research note on Thursday, December 18th. They set an “overweight” rating and a $7.00 target price for the company. Zacks Research raised SEALSQ to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SEALSQ currently has an average rating of “Hold” and a consensus target price of $7.50.

SEALSQ Price Performance

The business has a fifty day moving average price of $4.12 and a 200-day moving average price of $4.44. The company has a current ratio of 7.38, a quick ratio of 7.26 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in SEALSQ during the 1st quarter worth $1,365,000. Allworth Financial LP acquired a new stake in shares of SEALSQ during the second quarter worth $47,000. Geode Capital Management LLC boosted its position 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 acquiring an additional 49,534 shares during the period. Meridian Wealth Management LLC bought a new stake in shares of SEALSQ in the second quarter valued at about $103,000. Finally, MAI Capital Management acquired a new position in shares of SEALSQ in the second quarter valued at about $50,000. 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.