SEALSQ (NASDAQ:LAES) Shares Down 6.7% – Time to Sell?

Shares of SEALSQ Corp. (NASDAQ:LAES) dropped 6.7% during trading on Tuesday . The company traded as low as $3.16 and last traded at $3.1450. Approximately 3,937,187 shares traded hands during trading, a decline of 66% from the average daily volume of 11,506,082 shares. The stock had previously closed at $3.37.

Analyst Ratings Changes

LAES has been the subject of a number of recent research reports. Wall Street Zen lowered shares of SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Cantor Fitzgerald reduced their target price on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, SEALSQ presently has a consensus rating of “Hold” and an average target price of $6.00.

SEALSQ Stock Down 6.4%

The company’s 50 day moving average price is $2.97 and its 200-day moving average price is $3.64.

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

Insider Buying and Selling at SEALSQ

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were 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 approximately $33,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 dated Tuesday, June 2nd. The stock was sold at an average price of $3.69, for a total transaction of $36,900.00. Following the completion of the transaction, the chief financial officer directly owned 256,156 shares in the company, valued at $945,215.64. This trade represents a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 155,664 shares of company stock valued at $440,545.

Hedge Funds Weigh In On SEALSQ

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Counterpoint Mutual Funds LLC purchased a new position in shares of SEALSQ in the 3rd quarter worth about $502,000. Tudor Investment Corp ET AL purchased a new position in shares of SEALSQ in the 3rd quarter worth about $955,000. Kessler Investment Group LLC purchased a new position in shares of SEALSQ in the 4th quarter worth about $1,287,000. UBS Group AG boosted its holdings in shares of SEALSQ by 398.0% in the 4th 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 last quarter. Finally, L1 Global Manager Pty Ltd purchased a new stake in SEALSQ during the fourth quarter valued at about $756,000. 1.25% of the stock is owned by hedge funds and other institutional investors.

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.