SEALSQ (NASDAQ:LAES) Trading Up 11.1% – Here’s Why

SEALSQ Corp. (NASDAQ:LAES) shares traded up 11.1% during mid-day trading on Wednesday . The company traded as high as $6.60 and last traded at $6.5650. 12,366,262 shares were traded during mid-day trading, a decline of 39% from the average session volume of 20,297,273 shares. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded SEALSQ from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SEALSQ has a consensus rating of “Sell”.

SEALSQ Stock Up 12.6%

The firm has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $3.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.38 and a quick ratio of 7.26.

Hedge Funds Weigh In On SEALSQ

Several large investors have recently bought and sold shares of LAES. DKM Wealth Management Inc. bought a new stake in SEALSQ during the third quarter worth $37,000. LaSalle St. Investment Advisors LLC bought a new stake in SEALSQ during the first quarter worth about $39,000. A&I Financial Services LLC bought a new stake in shares of SEALSQ in the 3rd quarter worth approximately $40,000. Gainplan LLC bought a new stake in shares of SEALSQ in the 3rd quarter valued at about $42,000. Finally, Sage Advisors LLC bought a new stake in SEALSQ during the 3rd quarter valued at $43,000. 1.25% of the stock is currently owned by institutional investors.

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.