Sequans Communications SA (NYSE:SQNS)’s stock price traded up 19% on Wednesday . The stock traded as high as $2.80 and last traded at $2.76, 268,500 shares changed hands during trading. An increase of 544% from the average session volume of 41,679 shares. The stock had previously closed at $2.32.
Several research firms have recently commented on SQNS. Zacks Investment Research raised Sequans Communications from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Canaccord Genuity reissued a “buy” rating and issued a $6.00 target price on shares of Sequans Communications in a research note on Friday, November 29th. Finally, ValuEngine upgraded shares of Sequans Communications from a “hold” rating to a “buy” rating in a report on Friday, November 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $8.33.
The company has a market capitalization of $68.44 million, a P/E ratio of -1.96 and a beta of 2.66. The stock’s fifty day moving average price is $1.05 and its 200-day moving average price is $0.94.
Institutional investors have recently made changes to their positions in the business. AWM Investment Company Inc. boosted its holdings in shares of Sequans Communications by 1.7% during the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock worth $8,466,000 after acquiring an additional 155,418 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Sequans Communications in the third quarter valued at approximately $112,000. Finally, Citadel Advisors LLC increased its stake in shares of Sequans Communications by 127.0% during the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock worth $59,000 after purchasing an additional 36,546 shares during the period. 43.61% of the stock is owned by institutional investors and hedge funds.
About Sequans Communications (NYSE:SQNS)
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
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