WISeKey International (NASDAQ:WKEY) Shares Down 8.6% – Here’s What Happened

Shares of WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) dropped 8.6% during mid-day trading on Thursday . The stock traded as low as $6.28 and last traded at $6.35. Approximately 169,028 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 176,893 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

WKEY has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of WISeKey International in a report on Wednesday, January 21st. HC Wainwright boosted their price target on shares of WISeKey International from $4.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, WISeKey International presently has a consensus rating of “Hold” and a consensus price target of $10.50.

WISeKey International Trading Down 8.6%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.96 and a current ratio of 6.05. The stock’s 50-day simple moving average is $8.40 and its two-hundred day simple moving average is $7.90.

Institutional Trading of WISeKey International

A hedge fund recently bought a new stake in WISeKey International stock. Two Sigma Investments LP bought a new stake in shares of WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 29,320 shares of the company’s stock, valued at approximately $186,000. Two Sigma Investments LP owned about 0.36% of WISeKey International as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.33% of the company’s stock.

WISeKey International Company Profile

WISeKey International SA is a Swiss-based cybersecurity and digital identity company specializing in secure authentication and encryption solutions. The firm develops and deploys public key infrastructure (PKI) technologies, digital certificates and secure semiconductors to safeguard online transactions, data and communications. Its offerings encompass hardware security modules, digital vault services and cybersecurity software designed to protect devices, applications and networks against digital threats.

Founded in 1999 by Carlos Moreira, WISeKey has evolved into a provider of Internet of Things (IoT) security, embedding cryptographic capabilities directly into chips for smart cards, mobile devices and industrial sensors.