Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

Sequans Communications S.A. (NYSE:SQNS) was the target of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 468,016 shares, a decrease of 13.9% from the February 12th total of 543,594 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average trading volume of 100,001 shares, the short-interest ratio is currently 4.7 days. Based on an average trading volume of 100,001 shares, the short-interest ratio is currently 4.7 days. Currently, 3.6% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. B. Riley Financial cut their price target on Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Finally, Lake Street Capital initiated coverage on Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sequans Communications currently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Insider Buying and Selling at Sequans Communications

In other Sequans Communications news, major shareholder Daniel Asher bought 12,300 shares of Sequans Communications stock in a transaction that occurred on Monday, January 26th. The stock was purchased at an average price of $5.12 per share, with a total value of $62,976.00. Following the completion of the acquisition, the insider directly owned 140,011,100 shares in the company, valued at approximately $716,856,832. This trade represents a 0.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 223,032 shares of company stock valued at $1,194,030 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sequans Communications

Large investors have recently bought and sold shares of the company. NewGen Asset Management Ltd acquired a new stake in shares of Sequans Communications in the 2nd quarter worth $4,638,000. Hood River Capital Management LLC acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at approximately $20,746,000. Boothbay Fund Management LLC lifted its holdings in shares of Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after buying an additional 25,000 shares during the period. NewGen Equity Long Short Fund purchased a new stake in shares of Sequans Communications in the second quarter valued at approximately $4,638,000. Finally, Marshall Wace LLP boosted its stake in shares of Sequans Communications by 30.8% in the fourth quarter. Marshall Wace LLP now owns 145,424 shares of the semiconductor company’s stock valued at $653,000 after buying an additional 34,231 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Performance

Shares of NYSE SQNS traded up $0.07 during midday trading on Tuesday, reaching $3.29. 26,647 shares of the company were exchanged, compared to its average volume of 167,907. The stock has a market cap of $47.16 million, a P/E ratio of -0.26 and a beta of 0.37. Sequans Communications has a 1 year low of $2.72 and a 1 year high of $58.30. The stock has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $6.09. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 0.55.

Sequans Communications Company Profile

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.