Short Interest in Sequans Communications S.A. (NYSE:SQNS) Grows By 32.8%

Sequans Communications S.A. (NYSE:SQNS) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 531,882 shares, an increase of 32.8% from the January 15th total of 400,598 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 247,224 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily trading volume, of 247,224 shares, the days-to-cover ratio is presently 2.2 days. Approximately 4.1% of the company’s shares are sold short.

Analysts Set New Price Targets

Several analysts recently weighed in on SQNS shares. Lake Street Capital began coverage on shares of Sequans Communications in a report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price for the company. B. Riley Financial dropped their price objective on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. B. Riley Securities cut their price objective on Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Sequans Communications Stock Up 5.9%

SQNS stock traded up $0.18 during trading on Monday, hitting $3.22. 108,534 shares of the company’s stock were exchanged, compared to its average volume of 255,565. The business has a 50-day moving average price of $4.83 and a two-hundred day moving average price of $7.28. Sequans Communications has a 52-week low of $3.01 and a 52-week high of $58.30. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $46.14 million, a price-to-earnings ratio of -0.26 and a beta of 0.29.

Insider Buying and Selling at Sequans Communications

In related news, major shareholder Daniel Asher purchased 12,300 shares of Sequans Communications stock in a transaction dated Monday, January 26th. The shares were acquired at an average cost of $5.12 per share, with a total value of $62,976.00. Following the purchase, the insider owned 140,011,100 shares of the company’s stock, valued at approximately $716,856,832. The trade was a 0.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 223,032 shares of company stock worth $1,194,030 in the last ninety days. 9.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sequans Communications

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in shares of Sequans Communications during the 3rd quarter worth approximately $26,000. Meteora Capital LLC purchased a new stake in shares of Sequans Communications in the second quarter valued at approximately $74,000. Krilogy Financial LLC acquired a new position in Sequans Communications during the third quarter worth $568,000. Moore Capital Management LP purchased a new position in Sequans Communications in the third quarter worth $581,000. Finally, Marshall Wace LLP raised its position in Sequans Communications by 30.8% in the fourth quarter. Marshall Wace LLP now owns 145,424 shares of the semiconductor company’s stock worth $653,000 after acquiring an additional 34,231 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

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.