Sequans Communications S.A. (NYSE:SQNS) Sees Significant Decrease in Short Interest

Sequans Communications S.A. (NYSE:SQNS) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 73,196 shares, a decrease of 40.9% from the April 30th total of 123,881 shares. Based on an average daily volume of 288,291 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.6% of the company’s stock are short sold.

Sequans Communications Stock Performance

NYSE:SQNS traded down $0.03 during mid-day trading on Thursday, reaching $3.91. 31,156 shares of the company’s stock were exchanged, compared to its average volume of 203,824. Sequans Communications has a one year low of $2.38 and a one year high of $58.30. The firm has a market capitalization of $58.57 million, a PE ratio of -0.29 and a beta of 0.78. The business’s fifty day simple moving average is $3.30 and its two-hundred day simple moving average is $4.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.42 and a current ratio of 0.47.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SQNS shares. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Friday, March 27th. Wall Street Zen raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research downgraded shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, B. Riley Financial lowered their price objective on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.33.

Hedge Funds Weigh In On Sequans Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE acquired a new position in Sequans Communications in the 3rd quarter valued at approximately $26,000. XTX Topco Ltd acquired a new position in Sequans Communications in the 4th quarter valued at approximately $73,000. Virtu Financial LLC acquired a new position in Sequans Communications in the 4th quarter valued at approximately $75,000. J. Derek Lewis & Associates Inc. acquired a new position in Sequans Communications in the 4th quarter valued at approximately $85,000. Finally, Quadrature Capital Ltd acquired a new position in Sequans Communications in the 4th quarter valued at approximately $101,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.