SEALSQ (NASDAQ:LAES) Stock Price Up 7.1% – Here’s What Happened

Shares of SEALSQ Corp. (NASDAQ:LAES) were up 7.1% during trading on Tuesday . The company traded as high as $4.16 and last traded at $4.1750. Approximately 4,413,073 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 19,666,338 shares. The stock had previously closed at $3.90.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LAES shares. Wall Street Zen upgraded shares of SEALSQ from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Cantor Fitzgerald began coverage on shares of SEALSQ in a research note on Thursday. They set an “overweight” rating and a $7.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SEALSQ in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.00.

SEALSQ Price Performance

The company’s 50 day moving average is $5.30 and its 200-day moving average is $4.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.38 and a quick ratio of 7.26.

Institutional Trading of SEALSQ

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