WISeKey International (NASDAQ:WKEY) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• WISeKey International was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a negative shift in analyst sentiment.
• Despite the downgrade, Maxim Group raised its target price on the stock from $10.00 to $11.00, maintaining a "buy" rating.
• The stock is currently trading at $6.94 and has seen significant volatility, with a 12-month low of $1.61 and a high of $14.00.

WISeKey International (NASDAQ:WKEY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also recently issued reports on WKEY. Maxim Group increased their target price on WISeKey International from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of WISeKey International in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.50.

WISeKey International Price Performance

NASDAQ WKEY traded down $0.16 on Friday, hitting $6.94. 298,930 shares of the company were exchanged, compared to its average volume of 154,626. WISeKey International has a 12 month low of $1.61 and a 12 month high of $14.00. 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 stock has a fifty day moving average of $5.72 and a 200-day moving average of $5.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WKEY. GAMMA Investing LLC bought a new stake in shares of WISeKey International during the 1st quarter worth $45,000. SBI Securities Co. Ltd. raised its position in WISeKey International by 62.1% in the first quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the company's stock worth $68,000 after acquiring an additional 6,623 shares during the period. Finally, XTX Topco Ltd purchased a new position in WISeKey International in the second quarter valued at about $81,000. Hedge funds and other institutional investors own 0.33% of the company's stock.

About WISeKey International

WISeKey International Holding AG, a cybersecurity company, provides integrated security solutions in Switzerland, rest of Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. The company operates in two segments, IoT and Managed Public Key Infrastructure (mPKI). It offers microcontrollers that provides identity to various connected devices; and mPKI, which include digital identity, certificate management and signing solutions, and trust services, as well as offers digital certificates; software as a service, including cloud-based certificate life-cycle-management and signing and authentication solutions; software licenses; post-contract customer support for cybersecurity applications; and infrastructure hosting and monitoring services.

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