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Tag: WKEY

  • WISeKey International Holding AG (WKEY) surged in the Pre-market; here is why?

    WISeKey International Holding AG (WKEY) surged in the Pre-market; here is why?

    WISeKey International Holding AG (WKEY) gained in the pre-market after the company announced its unaudited preliminary results of fiscal 2021. WKEY values at $3.71 in the pre-market, gaining more than 14.15% from the previously closed value. At the end of the last trading session, the stock closed at $3.25. The stock traded volume in the previous trading session was approximately 314.83K shares.

    WISeKey International Holding AG (WKEY) preliminary results of fiscal 2021

    WISeKey International Holding AG (WKEY) is anticipating revenue of around $22.2 million in fiscal 2021. Their expectation is about 50% growth in the revenue compared to the $14.8 million in 2022. It is quite a good performance despite the supply chain disruptions due to Covid-19.

    WISeKey International Holding AG (WKEY) has been experiencing extraordinary demand for IoT semiconductor solutions, resulting in a $39 million backlog of purchase orders. They currently receive $1.3 million in new orders per week. While shortages in the semiconductor industry project to continue in 2019, their supply chain team is working hard to convert most of this backlog into revenue in 2022, with specific delivery dates extending into 2023.

    WISE.ART is a fully-fledged marketplace secured by WISeKey’s different security solutions, allowing the verification of physical and digital assets and integrating KYC checks. The WISe.Art platform’s NFT design generates an irreversible link to the physical object, proof of ownership, provenance, and a set of contracts outlining future use and revenue streams.

    In addition to supporting the growth of its NFT WISe.Art platform, WISeKey’s strong cash position of $34.4 million at year-end 2021 supports its newly disclosed crypto mining activity.

    The effect on the stock gain

    The company’s stock gained significantly in the pre-market after announcing unaudited results for 2021. The massive increase in revenue despite supply chain disruptions and diversification in the NFTs business caught the investor’s attention.

    Conclusion

    The company has introduced two new products. VaultIC 292 and VaultIC 408 are the two additions to its Vaultic brand. They will have a significant contribution to the business.

  • $10M Investment Plan: WISeKey International Holding Ltd. (WKEY) Soars High After Hours

    On January 03, WISeKey International Holding Ltd. (WKEY) announced its investment plan for up to $10M in mining actives for cybersecurity in the next two years. Consequently, shares of WKEY were trading at $4.53 apiece in the after-hours on Monday.

    In the regular trading session, the stock fluctuated between $3.88 and $4.18 at 688.52K shares. After closing the session at $4.07 with an increase of 3.56%, the stock soared higher in the after hours. Hence, WKEY gained a huge 11.30% at an after-hours volume of 335.11K shares.

    The digital security technology solutions provider, WISeKey International Holding Ltd. was founded in 2015. Currently, its 17.73 million outstanding shares trade at a market capitalization of $96.84 million.

    WKEY’s Investment and Cybersecurity Plan

    The company plans to invest up to $10 million in the next two years for performing BTC mining for adapting cybersecurity technologies for helping customers defend against illicit cryptocurrency mining. WKEY will be performing the mining in its Geneva data center as well as a former Swiss military bunker situated in the Swiss Alps.

    The reason for the company entering crypto mining is to help its customers defend against crypto-jacking. Crypto-jacking means persistent or non-persistent installation by malicious cyber actors. Through the installation, they hijack the processing power of the system through the exploitation of vulnerabilities. Hence, illicitly installing crypto mining software on the victim’s systems. According to estimates, fifty out of every 100,000 devices have suffered from a crypto miner.

    Furthermore, WKEY has already created a Special Purpose Vehicle, TrusteCoin AG in Zoug for the crypto mining operations. Moreover, the company will slowly be acquiring and installing over 1000 BTC mining machines at its Swiss Alps bunker. Moreover, the secure bunker facility will in turn be connected to Geneva’s control center. In addition, the company is in search of other such bunkers in Gibraltar and the U.S as well.

    2021 Key Business Milestones

    On December 29, the company provided a summary of its key business milestones in 2021.

    According to this:

    • The expected full-year revenues of WKEY are $20 million approx., marking a 32% YOY increase.
    • The cash position of the company was $33 million at the end of the third quarter of 2021.
    • The backlog of non-cancellable purchase orders totals $33.4 million with $1.0 million new orders per week on average. This marks a growth of 500% against 2020.
    • Acquired a controlling interest in Arago with a total investment of $13.0 million.
    • Launched WISe.Art NFT platform for collectible and luxury market.
    • Developed a new semiconductor chip that works on both Android and IOS 12 devices.

    In addition to these, WKEY also secured many strategic collaborations and partnerships in 2021.

  • WISekey International Holding AG (WKEY) Stock Rise in Premarket. Here’s why

    WISekey International Holding AG (WKEY) Stock Rise in Premarket. Here’s why

    WISekey International Holding AG (WKEY) is one of the leading international cybersecurity company. The company functions through two portions Internet of Things (IoT) and mPKI. Company’s microprocessors protect the pervasive computing influencing the current IoT. The cryptographic Root of Trust (RoT) operates protected verification and identification, in virtual and physical environments for IoT, Blockchain, and AI. The company also provides ISTANA services for managing the components in AI-based cars by providing PKI-based digital identity.

    The price of WKEY stock during the regular trading on December 29, 2020, was $4.01 with a decline of 1.23%. At last check in the premarket on December 30, 2021, the stock jumped by 5.24%.

    WKEY: Events and Happenings

    On December 29, 2021, WKEY reported about the presentation of a summary of the company’s important milestones achieved in 2021. Company’s executives discussed recent business developments, financial indicators, prospects for the year 2021, and developmental prospects for 2022.

    On December 23, 2021, WKEY reported about the support of the EU recent Data and Cloud Coalition. The coalition offered a faster step toward digital independence. It will result in reduced dependency on foreign tech providers. As a solid footstep towards this support, the company previously operated a Swiss-EU-created WISeID Cloud Storage program.

    On December 22, 2021, WKEY, FOSSA Systems, and the City Council of La Línea de la Concepción co-announced the completion of the first ground station. The station served as the regulator base for the trajectory of IoT satellites. Earlier this year an MoU was signed between the parties for the making of a 4th Industrial Revolution Center of Excellence.

    On December 20, 2021, WKEY reported about the induction of new artists for the WISe.ART NFT Marketplace. WISe.ART NFT perceive a future for the indications that upsets the content creation economics and impact on the internet.  On December 13, 2021, WKEY reported about the celebration of the 15th anniversary of its collaboration with CISCO. The company recently delivered the hundredth million chip to CISCO. The company also added a second industrial supply to support the business development.

    Conference Presentations

    On December 9, 2021, WKEY reported about the presentation of the latest developments in blockchain identity and WISe.ART NFT using CasperLabs. The presentation was held on December 13. On December 8, 2021, WKEY reported that the company executives presented at the Imperial Capital Security Investor Conference. The conference held on December 15. On December 6, 2021, WKEY reported that the company’s WISe.ART Marketplace was between the NFT displays at the International Art Week.

    On December 1, 2021, WKEY reported about its partnership with OISTE.ORG Foundation. Both organizations co-presented entitled Digital Human Rights to Privacy and Digital Identity at World Law Congress. On November 30, 2021, WKEY reported to hold a metaverse holograminar at its Investor Day on December 13

    Conclusion

    WKEY stock fell 44% from the past six months, so the recent incline is the fresh air breath for the investors. The recent premarket rise is likely the outcome of taking the investors into confidence. Also, the company provided a summary of the achieved milestones of 2021. Analysts are suggesting it as a good move.

  • WISeKey Inc. (WKEY) stock rises during pre-market. Here’s what has happened?

    WISeKey Inc. (WKEY) stock rises during pre-market. Here’s what has happened?

    WISeKey Inc. (NASDAQ: WKEY) stock showed a jump of 64.37% in last trading close whereas during the pre-market the WKEY stock declines by 14.37%. This irregular up and down of WKEY stock price has been observed after WISeKey announced the development of its new application i-e Non Fungible Tokens application. WISeKey is an international level cybersecurity company currently working on deploying digital identity ecosystems for people and objects that uses blockchain AI and IoT respecting the Human as the power of the Internet.

    So what?

    WKEY announcing the development of its new Non fungible tokens application is basically made on high-scalable blockchain infrastructure which is supported by proprietary Digital Identification technology that ensures security, authenticity and also proves the possession of tangible and digital assets. WISeKey has decided to include the NFT feature in its WISeAuthentic Platform that certainly uses an authentic method for digital certification of the genuineness of a physical object and corresponding computer program and storage device. 

    Other Recent Developments.

    • On 16 March 2021, WKEY announced that they have signed a Memorandum of understanding (MoU) with the Government of Seychelles which was officially represented by the Department of Information Communications Technology (DICT). This is to start a project for the development of an innovative Digital Identity platform for Seychelles, and this platform will be integrated with different national initiatives such as tourism and health and especially eGovernment.
    • Another recent development in the WISeKey Inc. is that they have released a VaccineTrusts platform which is based on PKI Digital Certification technology. The VaccineTrusts platform incorporates Digital Vaccination Certificates (DVC) provided by a variety of third trusted parties and is intended to be used as proof of vaccination for those who have received coronavirus vaccines. WKEY has already been approached and selected by the International Air Transport Association (IATA) as their technology partner to provide security to their ONE record test platform.

    Conclusion

    These recent positive developments have definitely played their role in hyping up the stock but clearly, the rise in WKEY stock did not sustain for a long time which shows that the investors are might not be completely sure about investing in WKEY stock as of now. Because of uncertain WKEY stock price we cannot give one final statement about WISeKey’s performance.