SEALSQ (NASDAQ:LAES) Shares Up 10.4% – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES) shares shot up 10.4% on Monday . The stock traded as high as $4.40 and last traded at $4.6350. 1,488,156 shares traded hands during trading, a decline of 92% from the average session volume of 19,472,873 shares. The stock had previously closed at $4.20.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen raised shares of SEALSQ from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a research note on Tuesday, October 14th. Finally, Cantor Fitzgerald started coverage on SEALSQ in a research note on Thursday. They set an “overweight” rating and a $7.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.00.

SEALSQ Price Performance

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 stock’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $4.13.

Hedge Funds Weigh In On SEALSQ

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