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

Sequans Communications S.A. (NYSE:SQNS) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 141,925 shares, an increase of 67.6% from the June 30th total of 84,666 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 46,965 shares, the short-interest ratio is currently 3.0 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Credit Industriel ET Commercial lifted its position in Sequans Communications by 81.8% during the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after purchasing an additional 180,000 shares during the period. SmartHarvest Portfolios LLC purchased a new stake in Sequans Communications in the first quarter worth approximately $60,000. J. Derek Lewis & Associates Inc. bought a new stake in Sequans Communications in the 4th quarter worth approximately $85,000. Virtu Financial LLC bought a new stake in Sequans Communications in the 4th quarter worth approximately $75,000. Finally, XTX Topco Ltd purchased a new stake in Sequans Communications during the 4th quarter valued at $73,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Price Performance

Shares of NYSE:SQNS opened at $2.46 on Friday. Sequans Communications has a fifty-two week low of $2.38 and a fifty-two week high of $14.20. The business has a 50-day simple moving average of $3.25 and a two-hundred day simple moving average of $3.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.42 and a current ratio of 0.47. The firm has a market cap of $36.92 million, a price-to-earnings ratio of -0.18 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SQNS. Zacks Research raised shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen cut Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sequans Communications has an average rating of “Moderate Buy” and an average target price of $20.33.

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.