SEALSQ (NASDAQ:LAES) Shares Up 11.8% – Still a Buy?
by Doug Wharley · The Cerbat GemShares of SEALSQ Corp. (NASDAQ:LAES – Get Free Report) traded up 11.8% during trading on Friday . The stock traded as high as $4.21 and last traded at $4.2250. 6,617,917 shares were traded during mid-day trading, a decline of 25% from the average session volume of 8,825,273 shares. The stock had previously closed at $3.78.
Wall Street Analyst Weigh In
Several analysts recently weighed in on LAES shares. Cantor Fitzgerald initiated coverage on shares of SEALSQ in a report on Thursday, December 18th. They issued an “overweight” rating and a $7.00 target price for the company. Wall Street Zen upgraded SEALSQ from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Zacks Research upgraded SEALSQ to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a research note on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.
Check Out Our Latest Research Report on SEALSQ
SEALSQ Price Performance
The company’s 50-day simple moving average is $4.85 and its 200 day simple moving average is $4.13. 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 Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of LAES. Steward Partners Investment Advisory LLC purchased a new stake in SEALSQ during the 2nd quarter worth about $7,939,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of SEALSQ in the 1st quarter valued at about $1,365,000. Millennium Management LLC grew its position in shares of SEALSQ by 747.8% during the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock worth $1,838,000 after buying an additional 433,547 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of SEALSQ during the third quarter worth approximately $988,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of SEALSQ during the third quarter worth approximately $955,000. 1.25% of the stock is owned by institutional investors and hedge funds.
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. 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.