SEALSQ (NASDAQ:LAES) Shares Up 11.1% – Here’s Why

SEALSQ Corp. (NASDAQ:LAES) shares were up 11.1% on Friday . The company traded as high as $3.89 and last traded at $3.9110. Approximately 1,448,646 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 9,929,531 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of SEALSQ in a report on Thursday, December 18th. They set an “overweight” rating and a $7.00 price objective on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of SEALSQ in a report on Friday, January 9th. Maxim Group set a $8.00 price objective on SEALSQ in a research report on Thursday, January 15th. Finally, Zacks Research raised SEALSQ to a “hold” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.50.

SEALSQ Stock Performance

The business has a 50-day moving average of $4.33 and a 200-day moving average of $4.23. The company has a quick ratio of 7.26, a current ratio of 7.38 and a debt-to-equity ratio of 0.03.

Institutional Trading of SEALSQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG grew its position in shares of SEALSQ by 398.0% in the 4th quarter. UBS Group AG now owns 3,223,216 shares of the company’s stock valued at $12,184,000 after acquiring an additional 2,576,003 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in SEALSQ during the second quarter worth approximately $7,939,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SEALSQ by 11.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 584,767 shares of the company’s stock worth $2,357,000 after buying an additional 59,902 shares during the last quarter. Millennium Management LLC raised its stake in SEALSQ by 747.8% in the third quarter. Millennium Management LLC now owns 491,523 shares of the company’s stock valued at $1,838,000 after buying an additional 433,547 shares during the period. Finally, Kessler Investment Group LLC acquired a new stake in shares of SEALSQ in the fourth quarter valued at approximately $1,287,000. 1.25% of the stock is owned by 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. 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.