SEALSQ (NASDAQ:LAES) Trading Down 6.1% – Here’s What Happened

SEALSQ Corp (NASDAQ:LAES)’s stock price dropped 6.1% during mid-day trading on Friday . The company traded as low as $7.82 and last traded at $8.14. Approximately 36,747,050 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 62,157,926 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

Separately, Maxim Group cut their target price on SEALSQ from $2.25 to $1.75 and set a “buy” rating on the stock in a report on Friday, September 27th.

SEALSQ Price Performance

The company has a current ratio of 3.58, a quick ratio of 3.20 and a debt-to-equity ratio of 3.55. The business has a 50-day simple moving average of $1.88 and a 200-day simple moving average of $1.04.

About SEALSQ

SEALSQ Corp, together with its subsidiaries, designs, develops, and markets semiconductor chips in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. It offers semiconductors, such as VaultIC secure elements, secure arm platform, and smart card reader chips; identity provisioning services, such as IoT device provisioning and chip provisioning; and managed PKI for IoT solutions and trust services.