WISeKey International (NASDAQ:WKEY) Shares Down 0.2% – Should You Sell?

WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $5.20 and last traded at $5.39. Approximately 31,494 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 59,434 shares. The stock had previously closed at $5.40.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded WISeKey International from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $4.00.

WISeKey International Price Performance

The firm has a 50-day moving average of $5.83 and a 200 day moving average of $5.29.

Hedge Funds Weigh In On WISeKey International

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of WISeKey International during the 1st quarter valued at $45,000. XTX Topco Ltd acquired a new position in shares of WISeKey International during the 2nd quarter valued at $81,000. Finally, SBI Securities Co. Ltd. increased its position in shares of WISeKey International by 62.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the company’s stock valued at $68,000 after purchasing an additional 6,623 shares during the period. 0.33% of the stock is currently owned by institutional investors and hedge funds.

About WISeKey International

WISeKey International Holding AG, a cybersecurity company, provides integrated security solutions in Switzerland, rest of Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. The company operates in two segments, IoT and Managed Public Key Infrastructure (mPKI). It offers microcontrollers that provides identity to various connected devices; and mPKI, which include digital identity, certificate management and signing solutions, and trust services, as well as offers digital certificates; software as a service, including cloud-based certificate life-cycle-management and signing and authentication solutions; software licenses; post-contract customer support for cybersecurity applications; and infrastructure hosting and monitoring services.