SEALSQ (NASDAQ:LAES) Trading 11.8% Higher – Should You Buy?

SEALSQ Corp. (NASDAQ:LAES)’s share price rose 11.8% on Monday . The stock traded as high as $3.50 and last traded at $3.4650. Approximately 12,454,663 shares were traded during trading, an increase of 8% from the average daily volume of 11,484,854 shares. The stock had previously closed at $3.10.

Analyst Ratings Changes

Several brokerages recently issued reports on LAES. Wall Street Zen lowered shares of SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Cantor Fitzgerald lowered their price target on SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

SEALSQ Price Performance

The company has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $3.64.

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

Insiders Place Their Bets

In other SEALSQ news, VP Jean-Pierre Enguent sold 15,000 shares of the business’s stock in a transaction 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 completion of the sale, the vice president directly owned 15,000 shares of the company’s stock, valued at $33,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 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 approximately $945,215.64. The trade was a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 155,664 shares of company stock worth $440,545.

Hedge Funds Weigh In On SEALSQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. Anson Funds Management LP bought a new stake in SEALSQ in the first quarter valued at approximately $32,639,000. UBS Group AG increased its stake in shares of SEALSQ by 398.0% in the fourth quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock worth $12,184,000 after buying an additional 2,576,003 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of SEALSQ in the fourth quarter worth $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in SEALSQ by 11.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company’s stock valued at $2,357,000 after buying an additional 59,902 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in SEALSQ by 747.8% during the 3rd quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock valued at $1,838,000 after buying an additional 433,547 shares during the last quarter. 1.25% of the stock is currently owned by 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.