SEALSQ (NASDAQ:LAES) Trading Down 6.9% – Should You Sell?

SEALSQ Corp. (NASDAQ:LAES)’s share price was down 6.9% during mid-day trading on Wednesday . The company traded as low as $3.25 and last traded at $3.3140. Approximately 7,023,831 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 10,465,919 shares. The stock had previously closed at $3.56.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LAES shares. Cantor Fitzgerald reduced their price target on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen downgraded shares of SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. 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 company’s stock. Based on data from MarketBeat, SEALSQ currently has an average rating of “Hold” and a consensus price target of $6.00.

SEALSQ Trading Down 3.5%

The firm’s fifty day moving average is $2.81 and its 200 day moving average is $3.77.

SEALSQ (NASDAQ:LAES) last announced its earnings results on Monday, March 16th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $6.71 million for the quarter. Analysts anticipate that SEALSQ Corp. will post -0.17 EPS for the current year.

Insider Buying and Selling at SEALSQ

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the company’s stock in a transaction dated 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 owned 15,000 shares in the company, valued at $33,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $3.06, for a total transaction of $30,600.00. Following the transaction, the chief financial officer owned 296,095 shares in the company, valued at approximately $906,050.70. This trade represents a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 125,250 shares of company stock worth $331,928 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in SEALSQ by 51.7% during the 4th quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock worth $33,000 after buying an additional 2,945 shares in the last quarter. Engineers Gate Manager LP lifted its position in SEALSQ by 4.8% during the 4th quarter. Engineers Gate Manager LP now owns 65,065 shares of the company’s stock worth $246,000 after buying an additional 2,968 shares in the last quarter. Convergence Financial LLC lifted 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 buying an additional 3,189 shares in the last quarter. Farther Finance Advisors LLC lifted its position in SEALSQ by 172.2% during the 4th quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock worth $36,000 after buying an additional 5,969 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in SEALSQ by 2.6% during the 4th quarter. Vident Advisory LLC now owns 270,915 shares of the company’s stock worth $1,024,000 after buying an additional 6,801 shares in the last quarter. Institutional investors and hedge funds 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.