SEALSQ (NASDAQ:LAES) Shares Down 13.8% – Should You Sell?

SEALSQ Corp. (NASDAQ:LAES)’s share price traded down 13.8% during trading on Friday . The company traded as low as $3.17 and last traded at $3.1450. 9,609,536 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 11,100,969 shares. The stock had previously closed at $3.65.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LAES shares. Cantor Fitzgerald dropped their price objective on SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Wall Street Zen downgraded SEALSQ from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SEALSQ presently has an average rating of “Hold” and an average price target of $6.00.

SEALSQ Price Performance

The stock has a 50-day moving average price of $2.88 and a 200-day moving average price of $3.68.

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

Insider Buying and Selling

In other news, CFO John Charles O’hara sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $3.69, for a total value of $36,900.00. Following the completion of the sale, the chief financial officer directly owned 256,156 shares of the company’s stock, valued at $945,215.64. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jean-Pierre Enguent sold 15,000 shares of the firm’s stock in a transaction that occurred 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 approximately $33,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 155,521 shares of company stock valued at $440,043.

Hedge Funds Weigh In On SEALSQ

A number of large investors have recently made changes to their positions in LAES. Blue Trust Inc. bought a new position in shares of SEALSQ during the fourth quarter worth approximately $26,000. Wells Fargo & Company MN bought a new position in shares of SEALSQ during the fourth quarter worth approximately $27,000. IFP Advisors Inc increased its stake in shares of SEALSQ by 51.7% during the fourth quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock worth $33,000 after purchasing an additional 2,945 shares during the period. Farther Finance Advisors LLC increased its stake in shares of 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 purchasing an additional 5,969 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of SEALSQ during the fourth quarter worth approximately $40,000. 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.