Jean-Pierre Enguent Sells 15,000 Shares of SEALSQ (NASDAQ:LAES) Stock

SEALSQ Corp. (NASDAQ:LAES) VP Jean-Pierre Enguent sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $2.82, for a total value of $42,300.00. Following the sale, the vice president owned 15,000 shares of the company’s stock, valued at $42,300. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SEALSQ Price Performance

NASDAQ LAES traded up $0.04 during mid-day trading on Wednesday, reaching $2.84. 10,475,767 shares of the company’s stock traded hands, compared to its average volume of 12,583,876. SEALSQ Corp. has a 1-year low of $1.99 and a 1-year high of $8.71. The company has a fifty day simple moving average of $3.14 and a 200-day simple moving average of $3.48.

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 business had revenue of $6.71 million during the quarter. Sell-side analysts expect that SEALSQ Corp. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SEALSQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in shares of SEALSQ during the 4th quarter valued at $26,000. Wells Fargo & Company MN acquired a new stake in shares of SEALSQ in the fourth quarter valued at $27,000. IFP Advisors Inc boosted its stake in SEALSQ by 51.7% during the fourth quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock valued at $33,000 after buying an additional 2,945 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in SEALSQ by 172.2% during the fourth quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock worth $36,000 after acquiring an additional 5,969 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in SEALSQ during the fourth quarter worth about $40,000. 1.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LAES. Wall Street Zen downgraded shares of SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “sell (d-)” rating on shares of SEALSQ in a research note on Tuesday, June 16th. Finally, 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. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

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.