Jean-Pierre Enguent Sells 15,000 Shares of SEALSQ (NASDAQ:LAES) Stock

SEALSQ Corp. (NASDAQ:LAES) VP Jean-Pierre Enguent sold 15,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $2.82, for a total transaction of $42,300.00. Following the completion of the sale, the vice president owned 15,000 shares in the company, valued at $42,300. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SEALSQ Price Performance

NASDAQ LAES traded up $0.04 during trading hours on Wednesday, reaching $2.84. The company’s stock had a trading volume of 10,475,767 shares, compared to its average volume of 12,583,876. The company’s 50-day moving average is $3.14 and its two-hundred day moving average is $3.48. SEALSQ Corp. has a fifty-two week low of $1.99 and a fifty-two week high of $8.71.

SEALSQ (NASDAQ:LAES) last announced its earnings results on Monday, March 16th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $6.71 million for the quarter. As a group, research analysts forecast that SEALSQ Corp. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SEALSQ

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in shares of SEALSQ during the fourth quarter valued at approximately $26,000. Wells Fargo & Company MN purchased a new position in shares of SEALSQ in the fourth quarter valued at $27,000. IFP Advisors Inc boosted its stake in shares of SEALSQ by 51.7% in the fourth quarter. IFP Advisors Inc now owns 8,645 shares of the company’s stock valued at $33,000 after purchasing an additional 2,945 shares during the period. Farther Finance Advisors LLC grew its holdings in SEALSQ by 172.2% during the 4th quarter. Farther Finance Advisors LLC now owns 9,435 shares of the company’s stock valued at $36,000 after purchasing an additional 5,969 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in SEALSQ during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 1.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LAES shares. Wall Street Zen lowered SEALSQ from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday, June 16th. Finally, Cantor Fitzgerald cut their price target on SEALSQ from $7.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.00.

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.