Sequans Communications S.A. (NYSE:SQNS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sequans Communications S.A. (NYSE:SQNS) have received an average rating of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $10.8333.

Several research firms have recently issued reports on SQNS. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. B. Riley reduced their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Lake Street Capital assumed coverage on Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target on the stock.

Sequans Communications Stock Up 0.8%

SQNS stock opened at $5.02 on Friday. The stock has a market capitalization of $71.98 million, a P/E ratio of -0.62 and a beta of 0.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97. Sequans Communications has a one year low of $4.44 and a one year high of $58.30. The company has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $4.66.

Insider Activity

In related news, major shareholder Daniel Asher bought 21,900 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was purchased at an average cost of $4.91 per share, for a total transaction of $107,529.00. Following the completion of the acquisition, the insider owned 1,193,403 shares in the company, valued at $5,859,608.73. This trade represents a 1.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Sequans Communications

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new position in shares of Sequans Communications in the 3rd quarter valued at $26,000. Boothbay Fund Management LLC boosted its holdings in Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after acquiring an additional 25,000 shares during the last quarter. Meteora Capital LLC purchased a new stake in Sequans Communications during the second quarter valued at about $74,000. Krilogy Financial LLC purchased a new stake in Sequans Communications during the third quarter valued at about $568,000. Finally, Moore Capital Management LP acquired a new stake in Sequans Communications during the third quarter worth about $581,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

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.