SEALSQ (NASDAQ:LAES) Trading Down 7% – Here’s What Happened

SEALSQ Corp. (NASDAQ:LAES) shares were down 7% during mid-day trading on Friday . The company traded as low as $4.71 and last traded at $4.7230. Approximately 6,081,126 shares traded hands during trading, a decline of 70% from the average daily volume of 19,961,732 shares. The stock had previously closed at $5.08.

Analyst Ratings Changes

LAES has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of SEALSQ from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of SEALSQ in a research report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, SEALSQ has an average rating of “Sell”.

SEALSQ Trading Down 5.5%

The business’s 50 day simple moving average is $5.29 and its 200-day simple moving average is $4.04. 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

A number of institutional investors and hedge funds have recently modified their holdings of LAES. DKM Wealth Management Inc. bought a new position in shares of SEALSQ during the 3rd quarter valued at about $37,000. A&I Financial Services LLC bought a new position in shares of SEALSQ during the 3rd quarter worth approximately $40,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of SEALSQ in the third quarter valued at approximately $41,000. Convergence Financial LLC bought a new stake in SEALSQ during the 3rd quarter worth about $41,000. Finally, Gainplan LLC acquired a new position in SEALSQ during the third quarter valued at approximately $42,000. 1.25% of the stock is owned by institutional investors.

SEALSQ Company Profile

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.