SEALSQ (NASDAQ:LAES) Trading Up 5.3% – What’s Next?

Shares of SEALSQ Corp. (NASDAQ:LAES) traded up 5.3% on Tuesday . The stock traded as high as $3.43 and last traded at $3.2650. 5,567,492 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 11,807,707 shares. The stock had previously closed at $3.10.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LAES shares. Wall Street Zen cut SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday, June 16th. Finally, Cantor Fitzgerald lowered 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. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.00.

SEALSQ Stock Up 3.4%

The company has a fifty day moving average of $3.05 and a 200 day moving average of $3.59.

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

Insider Activity

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the firm’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 value of $33,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 of the company’s stock, valued at $945,215.64. This trade represents a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 130,664 shares of company stock valued at $365,295 in the last ninety days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of SEALSQ during the 1st quarter valued at $1,365,000. Geode Capital Management LLC increased its stake in shares of SEALSQ by 383.5% in the 2nd quarter. Geode Capital Management LLC now owns 62,449 shares of the company’s stock worth $252,000 after purchasing an additional 49,534 shares in the last quarter. WINTON GROUP Ltd bought a new position in SEALSQ in the 2nd quarter worth $76,000. Engineers Gate Manager LP bought a new position in SEALSQ in the 2nd quarter worth $47,000. Finally, Headlands Technologies LLC purchased a new position in SEALSQ during the second quarter valued at $77,000. Hedge funds and other 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.