Sequans Communications (NYSE:SQNS) Given New $8.00 Price Target at B. Riley Securities

Sequans Communications (NYSE:SQNS) had its price target reduced by B. Riley Securities from $11.00 to $8.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research analysts have also commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Lake Street Capital began coverage on Sequans Communications in a report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target for the company. Finally, B. Riley Financial dropped their price target on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Sequans Communications Price Performance

Shares of NYSE SQNS traded down $0.03 during trading on Wednesday, reaching $3.19. The company had a trading volume of 13,383 shares, compared to its average volume of 224,475. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Sequans Communications has a twelve month low of $3.05 and a twelve month high of $58.30. The stock has a 50-day moving average price of $5.03 and a two-hundred day moving average price of $7.55. The stock has a market capitalization of $45.64 million, a PE ratio of -0.25 and a beta of 0.29.

Insider Activity

In other Sequans Communications news, major shareholder Daniel Asher acquired 12,300 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were purchased at an average price of $5.12 per share, with a total value of $62,976.00. Following the completion of the transaction, the insider owned 140,011,100 shares in the company, valued at $716,856,832. The trade was a 0.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 223,032 shares of company stock worth $1,194,030. 9.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Sequans Communications

Several large investors have recently made changes to their positions in the business. NewGen Asset Management Ltd acquired a new position in Sequans Communications in the 2nd quarter valued at approximately $4,638,000. Hood River Capital Management LLC bought a new position in Sequans Communications during the 2nd quarter valued at about $20,746,000. Meteora Capital LLC acquired a new position in shares of Sequans Communications in the 2nd quarter worth approximately $74,000. Bank of America Corp DE bought a new stake in shares of Sequans Communications during the third quarter worth $26,000. Finally, Moore Capital Management LP bought a new position in shares of Sequans Communications in the third quarter worth about $581,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.