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

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

Analyst Upgrades and Downgrades

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

SEALSQ Trading Down 6.4%

The company’s fifty day simple moving average is $2.97 and its 200 day simple moving average is $3.64.

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

Insider Transactions at SEALSQ

In other news, VP Jean-Pierre Enguent sold 15,000 shares of the 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 sale, the vice president directly owned 15,000 shares of the company’s stock, valued at approximately $33,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 sale, the chief financial officer directly owned 256,156 shares in the company, valued at approximately $945,215.64. The trade was a 3.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 155,664 shares of company stock worth $440,545.

Institutional Investors Weigh In On SEALSQ

A number of institutional investors and hedge funds have recently modified their holdings of LAES. Anson Funds Management LP purchased a new stake in shares of SEALSQ in the first quarter worth about $32,639,000. UBS Group AG lifted its holdings in shares of SEALSQ by 398.0% in the fourth 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 in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of SEALSQ in the fourth quarter worth about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of SEALSQ in the first quarter worth about $1,365,000. Finally, Millennium Management LLC increased its position in shares of SEALSQ by 747.8% in the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after purchasing an additional 433,547 shares during the last quarter. 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.