SEALSQ (NASDAQ:LAES) VP Sells 15,000 Shares of Stock

SEALSQ Corp. (NASDAQ:LAES) VP Jean-Pierre Enguent sold 15,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $2.40, for a total value of $36,000.00. Following the sale, the vice president directly owned 15,000 shares in the company, valued at $36,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jean-Pierre Enguent also recently made the following trade(s):

• On Wednesday, August 5th, Jean-Pierre Enguent sold 15,000 shares of SEALSQ stock. The shares were sold at an average price of $2.46, for a total value of $36,900.00.
• On Wednesday, July 8th, Jean-Pierre Enguent sold 15,000 shares of SEALSQ stock. The stock was sold at an average price of $2.82, for a total value of $42,300.00.

SEALSQ Trading Up 1.7%

Shares of NASDAQ LAES traded up $0.04 during mid-day trading on Thursday, reaching $2.40. 5,621,352 shares of the company were exchanged, compared to its average volume of 12,266,897. SEALSQ Corp. has a 1 year low of $1.99 and a 1 year high of $8.71. The firm has a 50-day moving average of $2.66 and a 200 day moving average of $3.00.

Hedge Funds Weigh In On SEALSQ

Several hedge funds have recently made changes to their positions in the company. Anson Funds Management LP purchased a new position in SEALSQ in the 1st quarter worth $32,639,000. UBS Group AG grew its stake in SEALSQ by 398.0% during the 4th quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock valued at $12,184,000 after purchasing an additional 2,576,003 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of SEALSQ in the fourth quarter valued at about $3,921,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of SEALSQ in the first quarter valued at about $1,365,000. Finally, Millennium Management LLC increased its holdings in shares of SEALSQ by 747.8% in the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock valued at $1,838,000 after purchasing an additional 433,547 shares during the period. 1.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of SEALSQ in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, 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.