SEALSQ (NASDAQ:LAES) Stock Price Up 10.5% – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES)’s stock price shot up 10.5% on Thursday . The stock traded as high as $5.32 and last traded at $5.1250. 10,873,740 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 9,760,845 shares. The stock had previously closed at $4.64.

Analysts Set New Price Targets

LAES has been the subject of several analyst reports. Maxim Group set a $8.00 target price on SEALSQ in a report on Thursday, January 15th. Zacks Research upgraded shares of SEALSQ to a “hold” rating in a report on Friday, December 19th. Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a report on Friday, January 9th. Finally, Cantor Fitzgerald initiated coverage on SEALSQ in a report on Thursday, December 18th. They issued an “overweight” rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.50.

SEALSQ Stock Up 11.6%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 7.26 and a current ratio of 7.38. The firm has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.18.

Institutional Trading of SEALSQ

Several hedge funds have recently made changes to their positions in LAES. Steward Partners Investment Advisory LLC acquired a new position in shares of SEALSQ in the second quarter valued at approximately $7,939,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in SEALSQ in the first quarter worth approximately $1,365,000. Millennium Management LLC grew 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 acquiring an additional 433,547 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of SEALSQ in the 3rd quarter valued at approximately $988,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of SEALSQ in the 3rd quarter valued at $955,000. Institutional investors and hedge funds own 1.25% of the company’s stock.

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.