Cantor Fitzgerald Has Lowered Expectations for SEALSQ (NASDAQ:LAES) Stock Price

SEALSQ (NASDAQ:LAES) had its price target reduced by equities research analysts at Cantor Fitzgerald from $7.00 to $4.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 71.45% from the stock’s previous close.

Several other brokerages also recently weighed in on LAES. Maxim Group set a $8.00 target price on shares of SEALSQ in a report on Thursday, January 15th. Zacks Research raised SEALSQ to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

SEALSQ Trading Down 7.1%

NASDAQ:LAES opened at $2.33 on Thursday. The firm’s fifty day moving average price is $3.76 and its 200 day moving average price is $4.43. SEALSQ has a 1-year low of $2.12 and a 1-year high of $8.71.

Insider Activity at SEALSQ

In related news, CFO John Charles O’hara sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the completion of the sale, the chief financial officer directly owned 165,183 shares of the company’s stock, valued at $482,334.36. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 35,000 shares of company stock valued at $104,450.

Institutional Trading of SEALSQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG boosted its holdings in SEALSQ by 398.0% in the 4th quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock valued at $12,184,000 after purchasing an additional 2,576,003 shares during the period. Balyasny Asset Management L.P. bought a new stake in SEALSQ in the fourth quarter valued at about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 acquiring an additional 59,902 shares during the period. Millennium Management LLC raised its stake in SEALSQ by 747.8% during the third 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. Finally, Kessler Investment Group LLC bought a new position in shares of SEALSQ during the fourth quarter valued at $1,287,000. Institutional investors and hedge funds 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.