SEALSQ Corp. (NASDAQ:LAES) Short Interest Update

SEALSQ Corp. (NASDAQ:LAES) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 20,586,796 shares, an increase of 20.2% from the March 31st total of 17,126,667 shares. Approximately 10.7% of the shares of the company are short sold. Based on an average trading volume of 16,278,116 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

LAES has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a research report on Friday, January 9th. Wall Street Zen lowered shares of SEALSQ from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Maxim Group set a $8.00 price objective on shares of SEALSQ in a research report on Thursday, January 15th. Finally, Cantor Fitzgerald dropped their price objective on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.00.

Insiders Place Their Bets

In other SEALSQ news, VP Jean-Pierre Enguent sold 15,000 shares of the 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 sale, the vice president owned 15,000 shares in the company, valued at $33,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $3.06, for a total transaction of $30,600.00. Following the completion of the sale, the chief financial officer owned 296,095 shares of the company’s stock, valued at approximately $906,050.70. This represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 125,250 shares of company stock valued at $331,928.

Hedge Funds Weigh In On SEALSQ

A number of hedge funds have recently bought and sold shares of the business. True Vision MN LLC increased its position in SEALSQ by 240.9% during the first quarter. True Vision MN LLC now owns 85,124 shares of the company’s stock worth $223,000 after acquiring an additional 60,150 shares during the period. Caitong International Asset Management Co. Ltd increased its position in SEALSQ by 68.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 48,365 shares of the company’s stock worth $183,000 after acquiring an additional 19,664 shares during the period. Virtu Financial LLC bought a new position in SEALSQ during the fourth quarter worth about $588,000. Virtue Capital Management LLC increased its position in SEALSQ by 480.8% during the fourth quarter. Virtue Capital Management LLC now owns 112,000 shares of the company’s stock worth $423,000 after acquiring an additional 92,717 shares during the period. Finally, Vident Advisory LLC increased its position in SEALSQ by 2.6% during the fourth quarter. Vident Advisory LLC now owns 270,915 shares of the company’s stock worth $1,024,000 after acquiring an additional 6,801 shares during the period. 1.25% of the stock is owned by institutional investors.

SEALSQ Price Performance

Shares of LAES opened at $2.87 on Friday. The company’s 50-day moving average is $3.11 and its 200-day moving average is $4.19. SEALSQ has a fifty-two week low of $1.99 and a fifty-two week high of $8.71.

SEALSQ (NASDAQ:LAES) last issued 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 for the quarter. As a group, equities research analysts anticipate that SEALSQ will post -0.17 EPS for the current fiscal year.

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.