WISeKey International (NASDAQ:WKEY) Price Target Raised to $11.00

Key Points

• Analysts at Maxim Group have raised their price target for WISeKey International from $10.00 to $11.00, indicating a potential upside of 65.41% from the current stock price.
• WISeKey International's stock has recently received upgrades, including a change from "sell" to "hold" by Wall Street Zen, with an average rating of "Buy" from two analysts.
• The company has experienced significant interest from institutional investors, including SBI Securities Co. Ltd., which increased its holdings by 62.1% in the first quarter.

WISeKey International (NASDAQ:WKEY - Get Free Report) had its target price raised by analysts at Maxim Group from $10.00 to $11.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Maxim Group's price objective would indicate a potential upside of 65.41% from the company's current price.

Separately, Wall Street Zen raised shares of WISeKey International from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $7.50.

WISeKey International Stock Performance

Shares of WKEY traded down $0.04 during mid-day trading on Monday, hitting $6.65. 39,889 shares of the company's stock were exchanged, compared to its average volume of 305,302. The stock's 50-day moving average is $5.64 and its 200-day moving average is $5.42. WISeKey International has a fifty-two week low of $1.61 and a fifty-two week 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.

Hedge Funds Weigh In On WISeKey International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its position in WISeKey International by 62.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 17,281 shares of the company's stock valued at $68,000 after buying an additional 6,623 shares during the last quarter. XTX Topco Ltd purchased a new position in WISeKey International in the 2nd quarter valued at $81,000. Finally, GAMMA Investing LLC purchased a new position in WISeKey International in the 1st quarter valued at $45,000. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

WISeKey International Company Profile

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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