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

Key Points

• SEALSQ beat EPS expectations, reporting a quarterly loss of $0.07 per share versus the consensus estimate of a $0.10 loss. However, revenue of $5.58 million fell well short of analysts’ $11.00 million forecast.
• Shares rose 2.3% to $2.43 during Friday trading, though the stock remains well below its 52-week high of $8.71. Analysts maintain a consensus “Hold” rating with a $6.00 target price, while Weiss Ratings reiterated a “sell” rating.
• Insiders have been selling shares, including a vice president’s sale of 15,000 shares for $36,000; insiders sold 45,000 shares worth $115,200 over the past three months. Institutional investors own only 1.25% of the company.

SEALSQ (NASDAQ:LAES - Get Free Report) issued its quarterly earnings data on Friday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.03, reports. The company had revenue of $5.58 million for the quarter, compared to analysts' expectations of $11.00 million.

SEALSQ Trading Up 2.3%

Shares of LAES stock traded up $0.05 during mid-day trading on Friday, hitting $2.43. 576,997 shares of the stock were exchanged, compared to its average volume of 12,025,872. The firm has a fifty day moving average of $2.57 and a 200 day moving average of $2.94. SEALSQ has a 52-week low of $1.99 and a 52-week high of $8.71.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of SEALSQ in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $6.00.

Insider Buying and Selling at SEALSQ

In other SEALSQ news, VP Jean-Pierre Enguent sold 15,000 shares of the business'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 transaction of $36,000.00. Following the completion of the sale, the vice president directly owned 15,000 shares in the company, valued at approximately $36,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 45,000 shares of company stock worth $115,200.

Institutional Trading of SEALSQ

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtue Capital Management LLC increased its holdings in SEALSQ by 480.8% in the 4th quarter. Virtue Capital Management LLC now owns 112,000 shares of the company's stock valued at $423,000 after purchasing an additional 92,717 shares during the last quarter. Vident Advisory LLC raised its stake in shares of SEALSQ by 2.6% in the fourth quarter. Vident Advisory LLC now owns 270,915 shares of the company's stock valued at $1,024,000 after acquiring an additional 6,801 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in SEALSQ during the 4th quarter worth about $40,000. XTX Topco Ltd increased its stake in shares of SEALSQ by 155.0% during the fourth quarter. XTX Topco Ltd now owns 137,057 shares of the company's stock worth $518,000 after buying an additional 83,306 shares during the period. Finally, Engineers Gate Manager LP raised its holdings in SEALSQ by 4.8% in the fourth quarter. Engineers Gate Manager LP now owns 65,065 shares of the company's stock valued at $246,000 after acquiring an additional 2,968 shares in the last quarter. Institutional investors and hedge funds own 1.25% of the company's stock.

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.

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