SEALSQ (NASDAQ:LAES) Announces Earnings Results

SEALSQ (NASDAQ:LAES) posted its quarterly earnings results on Friday. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03, reports. The business had revenue of $5.58 million for the quarter, compared to the consensus estimate of $11.00 million.

SEALSQ Price Performance

LAES stock opened at $2.38 on Friday. SEALSQ has a one year low of $1.99 and a one year high of $8.71. The company’s fifty day moving average price is $2.56 and its 200-day moving average price is $2.93.

Insider Buying and Selling at SEALSQ

In related news, VP Jean-Pierre Enguent sold 15,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $2.40, for a total transaction of $36,000.00. Following the completion of the transaction, the vice president directly owned 15,000 shares of the company’s stock, valued at approximately $36,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,000 shares of company stock worth $115,200 in the last three months.

Institutional Trading of SEALSQ

Hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP grew its position in shares of SEALSQ by 4.8% during the fourth quarter. Engineers Gate Manager LP now owns 65,065 shares of the company’s stock valued at $246,000 after purchasing an additional 2,968 shares in the last quarter. Vident Advisory LLC lifted its position in shares of SEALSQ by 2.6% in the fourth quarter. Vident Advisory LLC now owns 270,915 shares of the company’s stock worth $1,024,000 after buying an additional 6,801 shares in the last quarter. Wells Fargo & Company MN purchased a new stake in shares of SEALSQ in the fourth quarter worth about $27,000. NewEdge Advisors LLC bought a new position in SEALSQ during the fourth quarter valued at approximately $40,000. Finally, Resurgent Financial Advisors LLC bought a new position in SEALSQ during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 1.25% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SEALSQ in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.