SEALSQ (NASDAQ:LAES) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of SEALSQ (NASDAQ:LAES) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other analysts have also issued reports on the stock. Cantor Fitzgerald decreased their price target 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. Maxim Group set a $8.00 price target on shares of SEALSQ in a research report on Thursday, January 15th. Zacks Research upgraded shares of SEALSQ to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a research report 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.

SEALSQ Stock Performance

NASDAQ LAES opened at $2.38 on Friday. The company’s fifty day moving average is $3.62 and its two-hundred day moving average is $4.41. SEALSQ has a 52-week low of $2.12 and a 52-week high of $8.71.

Insider Activity at SEALSQ

In other news, CFO John Charles O’hara sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the completion of the transaction, the chief financial officer directly owned 165,183 shares of the company’s stock, valued at approximately $482,334.36. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 55,000 shares of company stock worth $153,150.

Hedge Funds Weigh In On SEALSQ

A number of hedge funds and other institutional investors have recently made changes to their positions in LAES. UBS Group AG lifted its holdings in shares of SEALSQ by 398.0% during the 4th quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock worth $12,184,000 after acquiring an additional 2,576,003 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of SEALSQ during the 4th quarter worth about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of SEALSQ during the 1st quarter worth about $1,365,000. Millennium Management LLC lifted its holdings in shares of SEALSQ by 747.8% during the 3rd quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after acquiring an additional 433,547 shares during the period. Finally, Kessler Investment Group LLC bought a new position in shares of SEALSQ during the 4th quarter worth about $1,287,000. 1.25% of the stock is owned by 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.