Sequans Communications (NYSE:SQNS) Trading 19% Higher

Share on StockTwits

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.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $7.47 million for the quarter, compared to the consensus estimate of $9.88 million. Sequans Communications had a negative return on equity of 5,040.51% and a negative net margin of 128.30%. As a group, equities research analysts forecast that Sequans Communications SA will post -1.22 EPS for the current fiscal year.

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.

Recommended Story: What is the Shanghai Stock Exchange Composite Index?

Receive News & Ratings for Sequans Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sequans Communications and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.