SEALSQ (NASDAQ:LAES) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of SEALSQ (NASDAQ:LAES) from a sell rating to a strong sell rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SEALSQ in a research note on Friday, September 11th. One investment 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 currently has an average rating of “Hold” and an average target price of $6.00.

SEALSQ Price Performance

Shares of LAES opened at $2.36 on Friday. SEALSQ has a one year low of $1.99 and a one year high of $8.71. The stock has a 50-day moving average price of $2.50 and a 200 day moving average price of $2.86.

SEALSQ (NASDAQ:LAES) last announced its earnings results on Friday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $5.58 million during the quarter. On average, equities research analysts anticipate that SEALSQ will post -0.24 earnings per share for the current year.

Insiders Place Their Bets

In other SEALSQ news, VP Jean-Pierre Enguent sold 15,000 shares of the company’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 sale, the vice president owned 15,000 shares in the company, valued at $36,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,000 shares of company stock valued at $115,200 over the last three months.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Anson Funds Management LP acquired a new position in SEALSQ in the first quarter valued at approximately $32,639,000. L1 Global Manager Pty Ltd acquired a new stake in shares of SEALSQ during the 4th quarter worth approximately $756,000. Headlands Technologies LLC bought a new stake in shares of SEALSQ in the 2nd quarter worth approximately $630,000. Virtu Financial LLC bought a new stake in shares of SEALSQ in the 4th quarter worth approximately $588,000. Finally, Bank of New York Mellon Corp acquired a new position in SEALSQ during the 1st quarter valued at approximately $309,000. Institutional investors and hedge funds own 1.25% of the company’s stock.

SEALSQ Company Profile

SEALSQ Corp. (NASDAQ: LAES) develops and supplies semiconductor and cybersecurity technologies designed to secure connected devices and digital transactions. Its offerings include secure microcontrollers, hardware security modules, cryptographic components, and public key infrastructure (PKI) services used to authenticate devices, protect data, and support trusted digital identities.

The company focuses on applications involving the Internet of Things, industrial systems, automotive technology, telecommunications, cloud infrastructure, and other connected environments.