10 Hot Penny Stocks to Buy Now

7. SEALSQ Corp (NASDAQ:LAES)

Price: $3.38

6-Months Performance: 503.57%

Number of Hedge Fund Holders: 4

SEALSQ Corp (NASDAQ:LAES) is a Swiss company that operates in the semiconductor industry. It focuses on Tamper-Resistant Semiconductors, Post-Quantum Technology, and Secure Microcontrollers all of which are essential products for consumer electronics, aerospace and military applications, telecommunication, and more. On February 5, Matthew Galinko analyst at Maxim maintained a Buy rating on the stock with a price target of $6.

SEALSQ Corp (NASDAQ:LAES) has announced a significant integration of WISeAI’s decentralized model into its quantum computing platform. This move aims to enhance the security and transparency of artificial intelligence (AI) systems by leveraging quantum technology. Moreover, according to the company’s unaudited fiscal year 2024 results, its revenue was $11 million, which was less than the $30 million reported in FY23. Management attributed this decline to the transition towards post-quantum semiconductor technologies, with customers shifting from traditional microcontrollers to quantum-resistant solutions and delaying inventory build-up until the new chip release.

SEALSQ Corp (NASDAQ:LAES) believes its current revenue is comparable to its quantum-focused peers. To speed up the development it has also increased its R&D spending by $1.4 million year-over-year, and invested over $5M in 2024. It is one of the hot penny stocks to buy now.