SEALSQ (NASDAQ:LAES) Announces Earnings Results, Beats Expectations By $0.03 EPS

SEALSQ (NASDAQ:LAES) posted its earnings results on Friday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03, reports. The firm had revenue of $5.58 million during the quarter, compared to the consensus estimate of $11.00 million.

SEALSQ Trading Up 1.9%

Shares of NASDAQ LAES traded up $0.04 during trading on Friday, reaching $2.42. The company had a trading volume of 733,441 shares, compared to its average volume of 12,027,626. The company’s fifty day moving average price is $2.57 and its 200-day moving average price is $2.94. SEALSQ has a 12 month low of $1.99 and a 12 month high of $8.71.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SEALSQ in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Insider Activity at SEALSQ

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $2.40, for a total value of $36,000.00. Following the sale, the vice president directly owned 15,000 shares in the company, valued at $36,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,000 shares of company stock valued at $115,200 over the last quarter.

Institutional Investors Weigh In On SEALSQ

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new stake in SEALSQ during the 4th quarter worth about $27,000. NewEdge Advisors LLC bought a new position in shares of SEALSQ during the 4th quarter worth approximately $40,000. Resurgent Financial Advisors LLC bought a new position in shares of SEALSQ during the 4th quarter worth approximately $46,000. Engineers Gate Manager LP bought a new stake in shares of SEALSQ in the 2nd quarter valued at $47,000. Finally, Royal Bank of Canada boosted its stake in SEALSQ by 9,594.6% during the fourth quarter. Royal Bank of Canada now owns 18,032 shares of the company’s stock worth $68,000 after acquiring an additional 17,846 shares in the last quarter. 1.25% of the stock is currently owned by institutional investors and hedge funds.

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.