SEALSQ (NASDAQ:LAES) Trading 9.4% Higher – Time to Buy?

Shares of SEALSQ Corp. (NASDAQ:LAES) traded up 9.4% during trading on Thursday . The company traded as high as $3.76 and last traded at $3.7860. 17,137,081 shares were traded during trading, an increase of 55% from the average session volume of 11,066,794 shares. The stock had previously closed at $3.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen lowered SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Cantor Fitzgerald cut their price objective on SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. One 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

SEALSQ Trading Up 5.3%

The stock’s fifty day moving average is $2.87 and its two-hundred day moving average is $3.68.

SEALSQ (NASDAQ:LAES) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $6.71 million during the quarter. On average, equities research analysts predict that SEALSQ Corp. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other news, CFO John Charles O’hara sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $3.69, for a total transaction of $36,900.00. Following the sale, the chief financial officer owned 256,156 shares in the company, valued at $945,215.64. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jean-Pierre Enguent sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 15,000 shares of the company’s stock, valued at approximately $33,000. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 155,521 shares of company stock worth $440,043.

Hedge Funds Weigh In On SEALSQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in SEALSQ by 51.7% in the 4th 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. Engineers Gate Manager LP lifted its stake in SEALSQ by 4.8% in the 4th quarter. Engineers Gate Manager LP now owns 65,065 shares of the company’s stock worth $246,000 after acquiring an additional 2,968 shares in the last quarter. Convergence Financial LLC boosted its position in SEALSQ by 28.9% during the 4th quarter. Convergence Financial LLC now owns 14,216 shares of the company’s stock worth $54,000 after acquiring an additional 3,189 shares during the period. Farther Finance Advisors LLC grew its stake in SEALSQ by 172.2% during the 4th quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock valued at $36,000 after acquiring an additional 5,969 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in SEALSQ by 2.6% during the 4th quarter. Vident Advisory LLC now owns 270,915 shares of the company’s stock valued at $1,024,000 after acquiring an additional 6,801 shares in the last quarter. 1.25% of the stock is currently 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.