SEALSQ (NASDAQ:LAES) Sees Strong Trading Volume – Time to Buy?

Shares of SEALSQ Corp. (NASDAQ:LAES) saw unusually-high trading volume on Thursday . Approximately 7,971,968 shares were traded during trading, a decline of 18% from the previous session’s volume of 9,735,004 shares.The stock last traded at $3.2350 and had previously closed at $2.85.

Analysts Set New Price Targets

LAES has been the subject of several research reports. 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 for the company in a report 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.00.

SEALSQ Price Performance

The stock’s fifty day moving average is $2.82 and its 200 day moving average is $3.83.

SEALSQ (NASDAQ:LAES) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.04) EPS for the quarter. The company 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 Transactions at SEALSQ

In related 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 $33,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $3.06, for a total transaction of $30,600.00. Following the completion of the sale, the chief financial officer directly owned 296,095 shares in the company, valued at $906,050.70. This trade represents 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. In the last ninety days, insiders sold 125,250 shares of company stock valued at $331,928.

Institutional Trading of SEALSQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in SEALSQ in the 1st quarter worth about $1,365,000. Geode Capital Management LLC raised its position in SEALSQ by 383.5% in the 2nd quarter. Geode Capital Management LLC now owns 62,449 shares of the company’s stock worth $252,000 after purchasing an additional 49,534 shares during the period. WINTON GROUP Ltd purchased a new stake in SEALSQ in the 2nd quarter worth about $76,000. Engineers Gate Manager LP purchased a new stake in SEALSQ in the 2nd quarter worth about $47,000. Finally, Headlands Technologies LLC purchased a new stake in SEALSQ in the 2nd quarter worth about $77,000. 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.