WISeKey International (NASDAQ:WKEY) Shares Down 8.6% – Here’s Why

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WKEY. HC Wainwright raised their target price on WISeKey International from $4.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WISeKey International in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.50.

WISeKey International Stock Performance

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

Institutional Trading of WISeKey International

A hedge fund recently bought a new stake in WISeKey International stock. Two Sigma Investments LP purchased a new position in WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 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 SEC filing. 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.