Sequans Communications S.A. (NYSE:SQNS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Sequans Communications S.A. (NYSE:SQNS) have received an average rating of “Hold” from the five analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $20.3333.

SQNS has been the topic of several recent analyst reports. Zacks Research downgraded Sequans Communications from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Wall Street Zen raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a report on Friday, March 27th.

Sequans Communications Stock Down 3.7%

Shares of SQNS opened at $3.08 on Thursday. The company has a market capitalization of $46.18 million, a P/E ratio of -0.23 and a beta of 0.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42. Sequans Communications has a one year low of $2.38 and a one year high of $58.30. The business’s 50 day simple moving average is $3.44 and its 200-day simple moving average is $3.94.

Institutional Trading of Sequans Communications

A number of hedge funds and other institutional investors have recently modified their holdings of SQNS. Bank of America Corp DE acquired a new stake in shares of Sequans Communications in the third quarter valued at approximately $26,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Sequans Communications in the first quarter valued at approximately $60,000. XTX Topco Ltd acquired a new stake in shares of Sequans Communications in the fourth quarter valued at approximately $73,000. Virtu Financial LLC acquired a new stake in shares of Sequans Communications in the fourth quarter valued at approximately $75,000. Finally, J. Derek Lewis & Associates Inc. acquired a new stake in shares of Sequans Communications in the fourth quarter valued at approximately $85,000. Institutional investors and hedge funds 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.