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

Sequans Communications S.A. (NYSE:SQNS) was the target of a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 468,016 shares, a decrease of 13.9% from the February 12th total of 543,594 shares. Based on an average daily trading volume, of 100,001 shares, the short-interest ratio is currently 4.7 days. Currently, 3.6% of the shares of the company are sold short. Currently, 3.6% of the shares of the company are sold short. Based on an average daily trading volume, of 100,001 shares, the short-interest ratio is currently 4.7 days.

Sequans Communications Price Performance

Shares of SQNS traded down $0.13 during trading hours on Wednesday, hitting $3.16. 21,019 shares of the company were exchanged, compared to its average volume of 165,156. The company has a quick ratio of 0.79, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. Sequans Communications has a fifty-two week low of $2.72 and a fifty-two week high of $58.30. The company has a market cap of $45.30 million, a price-to-earnings ratio of -0.25 and a beta of 0.37. The firm’s fifty day moving average is $3.94 and its 200 day moving average is $6.06.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SQNS. Lake Street Capital started coverage on Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price on the stock. B. Riley Financial dropped their price target on Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sequans Communications currently has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Insiders Place Their Bets

In related news, major shareholder Daniel Asher purchased 57,809 shares of the stock in a transaction on Tuesday, January 13th. The shares were purchased at an average cost of $5.51 per share, with a total value of $318,527.59. Following the acquisition, the insider directly owned 1,789,487 shares in the company, valued at $9,860,073.37. The trade was a 3.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have bought 223,032 shares of company stock valued at $1,194,030. 9.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sequans Communications

A number of large investors have recently bought and sold shares of SQNS. Hood River Capital Management LLC acquired a new position in shares of Sequans Communications in the 2nd quarter valued at approximately $20,746,000. NewGen Equity Long Short Fund acquired a new stake in shares of Sequans Communications during the 2nd quarter worth approximately $4,638,000. NewGen Asset Management Ltd bought a new position in Sequans Communications in the second quarter valued at approximately $4,638,000. DRW Securities LLC acquired a new position in Sequans Communications during the fourth quarter valued at approximately $4,646,000. Finally, Yorkville Advisors Global LP acquired a new position in Sequans Communications during the third quarter valued at approximately $7,218,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.