WISeKey International (NASDAQ:WKEY) Shares Down 4.1% – Time to Sell?

WISeKey International Holding Ltd. Sponsored ADR (NASDAQ:WKEY)’s stock price traded down 4.1% during mid-day trading on Wednesday . The company traded as low as $7.00 and last traded at $7.02. 62,351 shares traded hands during trading, a decline of 39% from the average daily volume of 101,514 shares. The stock had previously closed at $7.32.

Wall Street Analysts Forecast Growth

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

WISeKey International Price Performance

The firm’s fifty day simple moving average is $8.12 and its 200-day simple moving average is $7.71. The company has a quick ratio of 12.87, a current ratio of 12.92 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On WISeKey International

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

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.