WISeKey International (NASDAQ:WKEY) Shares Down 0.7% – Here’s Why

WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY) was down 0.7% during trading on Tuesday . The company traded as low as $9.98 and last traded at $10.51. Approximately 311,506 shares traded hands during mid-day trading, an increase of 123% from the average daily volume of 139,378 shares. The stock had previously closed at $10.58.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of WISeKey International in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, WISeKey International presently has an average rating of “Hold” and an average target price of $10.50.

WISeKey International Stock Performance

The company has a quick ratio of 12.87, a current ratio of 12.92 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $7.45 and its 200-day simple moving average is $8.05.

WISeKey International (NASDAQ:WKEY) last released its earnings results on Thursday, April 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $7.00 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in WISeKey International in the 2nd quarter valued at about $81,000. Dynamic Technology Lab Private Ltd purchased a new position in WISeKey International in the 4th quarter valued at about $107,000. Jump Financial LLC purchased a new position in WISeKey International in the 4th quarter valued at about $113,000. Two Sigma Investments LP purchased a new position in WISeKey International in the 3rd quarter valued at about $186,000. Finally, Jane Street Group LLC purchased a new position in shares of WISeKey International during the 4th quarter worth about $251,000. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

About WISeKey International

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.