SEALSQ (NASDAQ:LAES) Trading Up 14.5% - Here's What Happened

Key Points

• SEALSQ Corp. stock rose 14.5% on Friday, reaching a high of $4.10 and last trading at $4.13, with trading volume increasing by 27% compared to its average.
• Wall Street analysts have rated SEALSQ as a "Buy" with an average price target of $1.75, reflecting a positive outlook for the company.
• Institutional investors have recently shown interest in SEALSQ, with multiple firms acquiring new stakes, highlighting potential confidence in the company's future growth.

SEALSQ Corp. (NASDAQ:LAES - Get Free Report)'s stock price rose 14.5% during mid-day trading on Friday . The company traded as high as $4.10 and last traded at $4.13. Approximately 19,621,457 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 15,396,676 shares. The stock had previously closed at $3.61.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of SEALSQ from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $1.75.

SEALSQ Trading Up 19.8%

The company's fifty day simple moving average is $3.01 and its two-hundred day simple moving average is $3.07. 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 Investors Weigh In On SEALSQ

A number of hedge funds and other institutional investors have recently made changes to their positions in LAES. Steward Partners Investment Advisory LLC acquired a new stake in shares of SEALSQ during the second quarter worth $7,939,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of SEALSQ during the first quarter worth $1,365,000. Rafferty Asset Management LLC acquired a new stake in shares of SEALSQ during the first quarter worth $530,000. Virtu Financial LLC bought a new position in SEALSQ in the first quarter valued at $359,000. Finally, Millennium Management LLC bought a new position in SEALSQ in the fourth quarter valued at $535,000. 1.25% of the stock is currently owned by institutional investors and hedge funds.

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.

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