SEALSQ (NASDAQ:LAES) Shares Up 11.8% – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES) shot up 11.8% during trading on Monday . The stock traded as high as $3.50 and last traded at $3.4650. 12,454,663 shares changed hands during trading, an increase of 8% from the average session volume of 11,484,854 shares. The stock had previously closed at $3.10.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LAES. Wall Street Zen downgraded SEALSQ from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Cantor Fitzgerald decreased their target price on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

SEALSQ Price Performance

The business has a 50-day moving average of $2.99 and a 200 day moving average of $3.62.

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

Insider Buying and Selling

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was 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 directly 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 sale was disclosed in a legal 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 company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $3.69, for a total value of $36,900.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 150,664 shares of company stock valued at $425,395 over the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Anson Funds Management LP bought a new position in SEALSQ in the 1st quarter valued at $32,639,000. State of Wyoming grew its position in shares of SEALSQ by 458.0% during the 1st quarter. State of Wyoming now owns 34,636 shares of the company’s stock valued at $91,000 after acquiring an additional 28,429 shares during the period. Bank of New York Mellon Corp bought a new position in shares of SEALSQ during the 1st quarter valued at approximately $309,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of SEALSQ by 104.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 28,570 shares of the company’s stock valued at $75,000 after acquiring an additional 14,570 shares during the period. Finally, True Vision MN LLC grew its position in shares of SEALSQ by 240.9% during the 1st quarter. True Vision MN LLC now owns 85,124 shares of the company’s stock valued at $223,000 after acquiring an additional 60,150 shares during the period. Institutional investors own 1.25% of the company’s stock.

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.