SEALSQ (NASDAQ:LAES) Trading Up 5.3% – Time to Buy?

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

Analyst Ratings Changes

Several equities analysts recently issued reports on LAES shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday, June 16th. Cantor Fitzgerald reduced their target price on SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen cut SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.00.

SEALSQ Price Performance

The business has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.59.

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

Insider Buying and Selling at SEALSQ

In other news, VP Jean-Pierre Enguent sold 15,000 shares of SEALSQ stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $2.20, for a total value of $33,000.00. Following the completion of the transaction, the vice president owned 15,000 shares of the company’s stock, valued at $33,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John Charles O’hara sold 10,000 shares of SEALSQ stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $2.92, for a total value 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 represents a 5.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 130,664 shares of company stock valued at $365,295 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LAES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of SEALSQ during the first quarter valued at approximately $1,365,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 49,534 shares during the last quarter. WINTON GROUP Ltd purchased a new position in SEALSQ in the 2nd quarter worth approximately $76,000. Engineers Gate Manager LP bought a new position in SEALSQ in the 2nd quarter valued at approximately $47,000. Finally, Headlands Technologies LLC bought a new position in SEALSQ in the 2nd quarter valued at approximately $77,000. 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.