SEALSQ (NASDAQ:LAES) Sees Large Volume Increase - Time to Buy?

Key Points

• Trading volume surged 63% to 14.74 million shares, with the stock trading around $2.625 (previous close $2.80) and down roughly 1.2% intraday.
• Analyst views are mixed with a consensus "Hold" and an average price target of $6; individual targets range from $4 (Cantor Fitzgerald cut) to $8 (Maxim), and ratings include Buy, Hold and Sell.
• Insiders sold shares recently (90,000 shares worth about $231k this quarter) even as institutions like UBS markedly increased their stake to ~3.22 million shares.

SEALSQ Corp. (NASDAQ:LAES - Get Free Report) saw strong trading volume on Thursday . 14,739,458 shares traded hands during mid-day trading, an increase of 63% from the previous session's volume of 9,064,716 shares.The stock last traded at $2.6250 and had previously closed at $2.80.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald cut 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. Maxim Group set a $8.00 target price on SEALSQ in a research note on Thursday, January 15th. Zacks Research raised shares of SEALSQ to a "hold" rating in a report on Friday, December 19th. Wall Street Zen cut shares of SEALSQ from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SEALSQ in a report on Friday, January 9th. One equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $6.00.

SEALSQ Trading Down 1.2%

The business's fifty day simple moving average is $3.34 and its 200-day simple moving average is $4.32.

SEALSQ (NASDAQ:LAES - Get Free Report) last issued 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.

Insider Buying and Selling at SEALSQ

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $2.20, for a total value of $33,000.00. Following the completion of the transaction, the vice president directly owned 15,000 shares in the company, valued at approximately $33,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal 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. Also, CFO John Charles O'hara sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 25th. The shares were 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 approximately $482,334.36. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 90,000 shares of company stock valued at $231,250 over the last quarter.

Institutional Investors Weigh In On SEALSQ

A number of institutional investors have recently made changes to their positions in LAES. UBS Group AG grew its holdings 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 valued at $12,184,000 after buying an additional 2,576,003 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of SEALSQ during the fourth quarter valued at approximately $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of SEALSQ during the first quarter valued at approximately $1,365,000. Millennium Management LLC grew its holdings in shares of SEALSQ by 747.8% during the third quarter. Millennium Management LLC now owns 491,523 shares of the company's stock valued at $1,838,000 after buying an additional 433,547 shares during the last quarter. Finally, Kessler Investment Group LLC purchased a new stake in SEALSQ in the fourth quarter worth approximately $1,287,000. Hedge funds and other institutional investors 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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