SEALSQ (NASDAQ:LAES) Shares Up 9.4% – What’s Next?

SEALSQ Corp. (NASDAQ:LAES)’s share price traded up 9.4% during trading on Thursday . The stock traded as high as $3.76 and last traded at $3.7860. 17,137,081 shares changed hands during trading, an increase of 55% from the average session volume of 11,066,794 shares. The stock had previously closed at $3.46.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen cut SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Cantor Fitzgerald cut their price objective on SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.00.

SEALSQ Price Performance

The stock’s 50 day moving average is $2.89 and its two-hundred day moving average is $3.67.

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

Insider Buying and Selling

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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $3.69, for a total transaction of $36,900.00. Following the sale, the chief financial officer owned 256,156 shares of the company’s stock, valued at $945,215.64. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 155,664 shares of company stock worth $440,545.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LAES. Anson Funds Management LP bought a new stake in SEALSQ during the first quarter worth $32,639,000. UBS Group AG increased its stake 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 valued at $12,184,000 after purchasing an additional 2,576,003 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of SEALSQ during the 4th quarter worth $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SEALSQ by 11.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company’s stock worth $2,357,000 after buying an additional 59,902 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in SEALSQ by 747.8% in the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock valued at $1,838,000 after buying an additional 433,547 shares in the last quarter. 1.25% of the stock is owned by institutional investors.

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.