SEALSQ (NASDAQ:LAES) Stock Price Down 6.7% – Here’s What Happened

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

Analysts Set New Price Targets

LAES has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday. Wall Street Zen cut shares of SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Finally, Cantor Fitzgerald cut their price objective on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

SEALSQ Stock Performance

The company’s 50-day moving average is $2.99 and its 200-day moving average is $3.62.

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

Insider Activity

In other SEALSQ news, CFO John Charles O’hara sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 165,183 shares of the company’s stock, valued at $482,334.36. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jean-Pierre Enguent sold 15,000 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $2.20, for a total transaction of $33,000.00. Following the transaction, the vice president directly owned 15,000 shares of the company’s stock, valued at approximately $33,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 140,664 shares of company stock valued at $395,195.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LAES. Blue Trust Inc. purchased a new position in SEALSQ during the fourth quarter worth about $26,000. Wells Fargo & Company MN purchased a new position in SEALSQ during the fourth quarter worth about $27,000. IFP Advisors Inc boosted its stake in SEALSQ by 51.7% during the fourth quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock worth $33,000 after buying an additional 2,945 shares during the period. Farther Finance Advisors LLC boosted its stake in SEALSQ by 172.2% during the fourth quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock worth $36,000 after buying an additional 5,969 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in SEALSQ during the fourth quarter worth about $40,000. Hedge funds and other institutional investors 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.