Insider Selling: SEALSQ (NASDAQ:LAES) VP Sells $42,300.00 in Stock

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

SEALSQ Price Performance

SEALSQ stock opened at $2.80 on Friday. SEALSQ Corp. has a twelve month low of $1.99 and a twelve month high of $8.71. The firm has a 50 day moving average price of $3.15 and a 200-day moving average price of $3.46.

SEALSQ (NASDAQ:LAES) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $6.71 million during the quarter. On average, research analysts predict that SEALSQ Corp. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in SEALSQ in the 1st quarter worth approximately $1,365,000. Geode Capital Management LLC raised its position in SEALSQ by 383.5% during the 2nd quarter. Geode Capital Management LLC now owns 62,449 shares of the company’s stock valued at $252,000 after purchasing an additional 49,534 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of SEALSQ in the 2nd quarter valued at $76,000. Engineers Gate Manager LP bought a new stake in shares of SEALSQ in the 2nd quarter valued at about $47,000. Finally, Headlands Technologies LLC purchased a new stake in SEALSQ during the second quarter valued at approximately $77,000. Institutional investors own 1.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Cantor Fitzgerald reduced their target price on SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday, June 16th. Finally, Wall Street Zen downgraded 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

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.