L1 Global Manager Pty Ltd Makes New $756,000 Investment in SEALSQ Corp. $LAES

L1 Global Manager Pty Ltd acquired a new position in shares of SEALSQ Corp. (NASDAQ:LAES) during the 4th quarter, Holdings Channel.com reports. The fund acquired 200,000 shares of the company’s stock, valued at approximately $756,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. IFP Advisors Inc grew its position in SEALSQ by 51.7% during the 4th quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock worth $33,000 after purchasing an additional 2,945 shares during the last quarter. Convergence Financial LLC grew its position in SEALSQ by 28.9% during the 4th quarter. Convergence Financial LLC now owns 14,216 shares of the company’s stock worth $54,000 after purchasing an additional 3,189 shares during the last quarter. Farther Finance Advisors LLC grew its position in SEALSQ by 172.2% during the 4th quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock worth $36,000 after purchasing an additional 5,969 shares during the last quarter. Blue Trust Inc. purchased a new position in SEALSQ during the 4th quarter worth $26,000. Finally, Wells Fargo & Company MN purchased a new position in SEALSQ during the 4th quarter worth $27,000. 1.25% of the stock is owned by hedge funds and other institutional investors.

SEALSQ Price Performance

LAES stock opened at $3.10 on Friday. SEALSQ Corp. has a 52 week low of $1.99 and a 52 week high of $8.71. The company’s 50-day moving average price is $2.95 and its 200 day moving average price is $3.65.

SEALSQ (NASDAQ:LAES) last released its quarterly earnings data 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 fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LAES shares. Cantor Fitzgerald lowered their price objective on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen downgraded shares of SEALSQ from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SEALSQ has a consensus rating of “Hold” and a consensus target price of $6.00.

Insider Transactions at SEALSQ

In other news, VP Jean-Pierre Enguent sold 15,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $33,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 transaction, the chief financial officer directly owned 256,156 shares of the company’s stock, valued at approximately $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 have sold 155,664 shares of company stock worth $440,545.

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.