SEALSQ (NASDAQ:LAES) Shares Gap Up – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $3.86, but opened at $4.19. SEALSQ shares last traded at $4.06, with a volume of 2,771,190 shares.

Analysts Set New Price Targets

LAES has been the topic of several research analyst reports. Wall Street Zen upgraded SEALSQ from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SEALSQ in a research report on Tuesday, October 14th. Finally, Cantor Fitzgerald assumed coverage on SEALSQ in a research note on Thursday. They set an “overweight” rating and a $7.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.00.

SEALSQ Trading Up 8.7%

The company has a current ratio of 7.38, a quick ratio of 7.26 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $5.34 and a 200-day simple moving average of $4.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LAES. DKM Wealth Management Inc. bought a new stake in shares of SEALSQ during the third quarter valued at about $37,000. A&I Financial Services LLC purchased a new position in SEALSQ during the third quarter valued at approximately $40,000. Baader Bank Aktiengesellschaft bought a new stake in SEALSQ during the 3rd quarter worth approximately $41,000. Convergence Financial LLC purchased a new stake in SEALSQ in the 3rd quarter worth approximately $41,000. Finally, Gainplan LLC bought a new position in SEALSQ in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors 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.