Sequans Communications S.A. (NYSE:SQNS) Given Average Recommendation of “Hold” by Brokerages

Sequans Communications S.A. (NYSE:SQNS) has been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.3333.

A number of brokerages have issued reports on SQNS. Wall Street Zen cut shares of Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research report on Friday, March 27th. Finally, Zacks Research cut shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th.

Institutional Investors Weigh In On Sequans Communications

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new position in Sequans Communications during the third quarter worth $26,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Sequans Communications in the first quarter valued at $60,000. XTX Topco Ltd acquired a new stake in shares of Sequans Communications during the fourth quarter valued at $73,000. Virtu Financial LLC acquired a new stake in shares of Sequans Communications during the fourth quarter valued at $75,000. Finally, J. Derek Lewis & Associates Inc. purchased a new stake in Sequans Communications during the 4th quarter worth about $85,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Sequans Communications Price Performance

Sequans Communications stock opened at $3.21 on Monday. The firm has a market capitalization of $48.16 million, a PE ratio of -0.24 and a beta of 0.79. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $58.30. The firm’s 50-day simple moving average is $3.58 and its 200 day simple moving average is $3.69. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.02.

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.