Cantor Fitzgerald Cuts SEALSQ (NASDAQ:LAES) Price Target to $4.00

SEALSQ (NASDAQ:LAES) had its price objective cut by Cantor Fitzgerald from $7.00 to $4.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Maxim Group set a $8.00 price target on SEALSQ in a research report on Thursday, January 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a report on Friday, January 9th. Finally, Zacks Research upgraded shares of SEALSQ to a “hold” rating in a research note on Friday, December 19th. One 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $6.00.

SEALSQ Price Performance

Shares of LAES stock opened at $2.50 on Thursday. SEALSQ has a 12-month low of $2.12 and a 12-month high of $8.71. The business has a 50 day simple moving average of $3.66 and a 200 day simple moving average of $4.41.

Insider Activity at SEALSQ

In related news, CFO John Charles O’hara sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $2.92, for a total transaction of $29,200.00. Following the sale, the chief financial officer owned 165,183 shares of the company’s stock, valued at $482,334.36. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 35,000 shares of company stock worth $104,450 in the last quarter.

Hedge Funds Weigh In On SEALSQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAES. UBS Group AG raised 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 worth $12,184,000 after buying an additional 2,576,003 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in SEALSQ during the fourth quarter valued at about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SEALSQ by 11.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company’s stock valued at $2,357,000 after buying an additional 59,902 shares in the last quarter. Millennium Management LLC grew its holdings in SEALSQ by 747.8% during the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after acquiring an additional 433,547 shares during the period. Finally, Kessler Investment Group LLC acquired a new position in SEALSQ during the fourth quarter worth about $1,287,000. 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.