SEALSQ (NASDAQ:LAES) Trading Down 4.1% – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES) shares were down 4.1% on Wednesday . The company traded as low as $4.10 and last traded at $4.1150. 4,946,596 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 20,203,758 shares. The stock had previously closed at $4.29.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LAES shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of SEALSQ in a research report on Tuesday, October 14th. Wall Street Zen raised shares of SEALSQ from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

SEALSQ Stock Performance

The business has a 50 day moving average of $5.22 and a two-hundred day moving average of $3.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.26 and a current ratio of 7.38.

Institutional Trading of SEALSQ

Several hedge funds have recently bought and sold shares of LAES. Steward Partners Investment Advisory LLC purchased a new stake in shares of SEALSQ during the second quarter worth $7,939,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of SEALSQ during the 1st quarter valued at $1,365,000. Millennium Management LLC lifted its holdings in SEALSQ by 747.8% during the 3rd quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after purchasing an additional 433,547 shares in the last quarter. Vident Advisory LLC purchased a new stake in SEALSQ during the 3rd quarter worth about $988,000. Finally, Rafferty Asset Management LLC bought a new position in SEALSQ in the 1st quarter worth about $530,000. Institutional investors and hedge funds 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.