SEALSQ (NASDAQ:LAES) Stock Price Down 5.2% – What’s Next?

SEALSQ Corp. (NASDAQ:LAES) traded down 5.2% during trading on Tuesday . The stock traded as low as $2.85 and last traded at $2.8150. 2,453,722 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 9,567,172 shares. The stock had previously closed at $2.97.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cantor Fitzgerald decreased their target price on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Maxim Group set a $8.00 target price on shares of SEALSQ in a research note on Thursday, January 15th. Wall Street Zen downgraded shares of SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SEALSQ in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SEALSQ presently has an average rating of “Hold” and a consensus price target of $6.00.

SEALSQ Trading Down 8.1%

The stock’s 50-day simple moving average is $3.06 and its 200-day simple moving average is $4.08.

SEALSQ (NASDAQ:LAES) 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, equities research analysts predict that SEALSQ Corp. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other SEALSQ news, CFO John Charles O’hara sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $3.06, for a total transaction of $30,600.00. Following the transaction, the chief financial officer directly owned 296,095 shares of the company’s stock, valued at approximately $906,050.70. The trade was a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Jean-Pierre Enguent sold 15,000 shares of the business’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 transaction, 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. Over the last three months, insiders have sold 125,250 shares of company stock worth $331,928.

Institutional Trading of SEALSQ

A number of hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG grew its position in shares of SEALSQ by 398.0% in the 4th quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock worth $12,184,000 after buying an additional 2,576,003 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of SEALSQ in the 4th quarter worth about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of SEALSQ by 11.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company’s stock worth $2,357,000 after buying an additional 59,902 shares during the period. Millennium Management LLC grew its position in shares of SEALSQ by 747.8% in the 3rd quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after buying an additional 433,547 shares during the period. Finally, Kessler Investment Group LLC purchased a new stake in shares of SEALSQ in the 4th quarter worth about $1,287,000. 1.25% of the stock is owned by hedge funds and other institutional investors.

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.