WISeKey International (NASDAQ:WKEY) Trading Down 8.6% – Here’s What Happened

Shares of WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) were down 8.6% during mid-day trading on Thursday . The company traded as low as $6.28 and last traded at $6.35. Approximately 169,028 shares traded hands during trading, a decline of 4% from the average daily volume of 176,893 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

WKEY has been the subject of several analyst reports. HC Wainwright increased their price objective on WISeKey International from $4.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of WISeKey International in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.50.

WISeKey International Price Performance

The company has a quick ratio of 5.96, a current ratio of 6.05 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is $8.40 and its 200-day simple moving average is $7.90.

Institutional Trading of WISeKey International

An institutional investor recently bought a new position in WISeKey International stock. Two Sigma Investments LP acquired a new position in shares of WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 29,320 shares of the company’s stock, valued at approximately $186,000. Two Sigma Investments LP owned approximately 0.36% of WISeKey International as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 0.33% of the company’s stock.

WISeKey International Company Profile

WISeKey International SA is a Swiss-based cybersecurity and digital identity company specializing in secure authentication and encryption solutions. The firm develops and deploys public key infrastructure (PKI) technologies, digital certificates and secure semiconductors to safeguard online transactions, data and communications. Its offerings encompass hardware security modules, digital vault services and cybersecurity software designed to protect devices, applications and networks against digital threats.

Founded in 1999 by Carlos Moreira, WISeKey has evolved into a provider of Internet of Things (IoT) security, embedding cryptographic capabilities directly into chips for smart cards, mobile devices and industrial sensors.