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

Key Points

• SEALSQ VP Jean-Pierre Enguent sold 15,000 shares on April 8 at an average price of $2.20 for $33,000, cutting his direct holding by 50%; the sale was made under a pre-arranged Rule 10b5-1 plan and disclosed in an SEC filing.
• The stock traded down 2.3% to $2.09 on heavy volume (10.7M shares vs. a ~8.25M average), trading near its 52-week low of $2.02 with 50- and 200-day moving averages of $3.51 and $4.38, respectively.
• Analyst views are mixed: the consensus rating is Hold with an average price target of $6.00, while individual reports range from sell calls (Weiss, Wall Street Zen) to targets between $4 (Cantor Fitzgerald) and $8 (Maxim).

SEALSQ Corp. (NASDAQ:LAES - Get Free Report) VP Jean-Pierre Enguent sold 15,000 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $2.20, for a total value of $33,000.00. Following the sale, the vice president directly owned 15,000 shares in the company, valued at $33,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SEALSQ Stock Down 2.3%

Shares of SEALSQ stock traded down $0.05 during trading hours on Thursday, reaching $2.09. 10,725,514 shares of the company were exchanged, compared to its average volume of 8,246,799. SEALSQ Corp. has a 1 year low of $2.02 and a 1 year high of $8.71. The stock's fifty day moving average is $3.51 and its 200 day moving average is $4.38.

SEALSQ (NASDAQ:LAES - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $6.71 million during the quarter.

Analysts Set New Price Targets

LAES has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SEALSQ in a research report on Friday, January 9th. Maxim Group set a $8.00 price objective on SEALSQ in a research report on Thursday, January 15th. Zacks Research raised SEALSQ to a "hold" rating in a research report on Friday, December 19th. Wall Street Zen downgraded shares of SEALSQ from a "hold" rating to a "sell" rating in a research note on Saturday, April 4th. Finally, Cantor Fitzgerald lowered their target price on shares of SEALSQ from $7.00 to $4.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. One 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.00.

Hedge Funds Weigh In On SEALSQ

A number of institutional investors and hedge funds have recently modified their holdings of the company. UBS Group AG grew its stake in shares of SEALSQ by 398.0% during the fourth quarter. UBS Group AG now owns 3,223,216 shares of the company's stock worth $12,184,000 after purchasing an additional 2,576,003 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of SEALSQ during the fourth quarter worth $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of SEALSQ by 11.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company's stock worth $2,357,000 after purchasing an additional 59,902 shares in the last quarter. Millennium Management LLC grew its stake in shares of 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 purchasing an additional 433,547 shares in the last quarter. Finally, Kessler Investment Group LLC acquired a new position in shares of SEALSQ during the fourth quarter worth $1,287,000. Institutional investors and hedge funds own 1.25% of the company's stock.

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.

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