SEALSQ (NASDAQ:LAES) Stock Price Down 7% – Here’s Why

SEALSQ Corp. (NASDAQ:LAES) was down 7% on Friday . The stock traded as low as $4.71 and last traded at $4.7230. Approximately 6,081,126 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 19,961,732 shares. The stock had previously closed at $5.08.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of SEALSQ from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SEALSQ currently has an average rating of “Sell”.

SEALSQ Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 7.38 and a quick ratio of 7.26. The firm has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $4.04.

Institutional Trading of SEALSQ

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DKM Wealth Management Inc. bought a new position in shares of SEALSQ in the 3rd quarter worth about $37,000. LaSalle St. Investment Advisors LLC purchased a new stake in SEALSQ in the first quarter worth about $39,000. A&I Financial Services LLC bought a new position in shares of SEALSQ during the third quarter valued at approximately $40,000. Baader Bank Aktiengesellschaft purchased a new position in shares of SEALSQ during the third quarter valued at approximately $41,000. Finally, Convergence Financial LLC bought a new stake in shares of SEALSQ in the 3rd quarter worth approximately $41,000. 1.25% of the stock is owned by hedge funds and other 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.