SEALSQ (NASDAQ:LAES) Shares Gap Down – What’s Next?

SEALSQ Corp. (NASDAQ:LAES) gapped down before the market opened on Tuesday . The stock had previously closed at $2.90, but opened at $2.70. SEALSQ shares last traded at $2.7450, with a volume of 1,418,600 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SEALSQ in a research note on Tuesday, June 16th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

SEALSQ Trading Down 5.1%

The firm has a 50-day simple moving average of $2.80 and a 200-day simple moving average of $3.11.

Insider Buying and Selling

In other news, CFO John Charles O’hara sold 10,000 shares of SEALSQ stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $3.69, for a total value of $36,900.00. Following the transaction, the chief financial officer owned 256,156 shares of the company’s stock, valued at $945,215.64. The trade was a 3.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jean-Pierre Enguent sold 15,000 shares of SEALSQ stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $2.46, for a total transaction of $36,900.00. Following the completion of the transaction, the vice president directly owned 15,000 shares in the company, valued at $36,900. This represents a 50.00% 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. In the last ninety days, insiders sold 60,414 shares of company stock worth $187,818.

Hedge Funds Weigh In On SEALSQ

Several hedge funds have recently made changes to their positions in LAES. Anson Funds Management LP acquired a new position in SEALSQ in the 1st quarter worth approximately $32,639,000. UBS Group AG increased its holdings in SEALSQ by 398.0% in the fourth quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock valued at $12,184,000 after buying an additional 2,576,003 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of SEALSQ in the 4th quarter valued at about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SEALSQ by 11.4% in the second 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 in the last quarter. Finally, Millennium Management LLC increased its holdings in SEALSQ by 747.8% in the 3rd quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after acquiring an additional 433,547 shares in the last quarter. 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.