SEALSQ (NASDAQ:LAES) Stock Price Down 5.2% – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES) shares fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $2.85 and last traded at $2.8150. 2,453,722 shares changed hands during trading, a decline of 74% from the average session volume of 9,567,172 shares. The stock had previously closed at $2.97.

Analysts Set New Price Targets

Several brokerages recently issued reports on LAES. Wall Street Zen lowered SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a research note on Friday, January 9th. Maxim Group set a $8.00 price target on SEALSQ in a research note on Thursday, January 15th. Finally, 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 note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, SEALSQ has an average rating of “Hold” and an average price target of $6.00.

SEALSQ Stock Performance

The business has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $4.16.

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

Insider Activity at SEALSQ

In other news, VP Jean-Pierre Enguent sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $2.20, for a total value of $33,000.00. Following the transaction, 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 position. The sale was disclosed in a legal filing 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 the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $3.06, for a total value of $30,600.00. Following the completion of the transaction, the chief financial officer directly owned 296,095 shares in the company, valued at $906,050.70. The trade was a 3.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 over the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LAES. Blue Trust Inc. acquired a new position in shares of SEALSQ in the 4th quarter worth approximately $26,000. Wells Fargo & Company MN acquired a new position in shares of SEALSQ in the 4th quarter worth approximately $27,000. IFP Advisors Inc boosted its holdings in shares of SEALSQ by 51.7% in the 4th quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock worth $33,000 after acquiring an additional 2,945 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of SEALSQ by 172.2% in the 4th 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 in the last quarter. Finally, A&I Financial Services LLC acquired a new position in shares of SEALSQ in the 3rd quarter worth approximately $40,000. 1.25% of the stock is owned by institutional investors and hedge funds.

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.