Sequans Communications (NYSE:SQNS) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Sequans Communications S.A. (NYSE:SQNS)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.56 and traded as high as $6.73. Sequans Communications shares last traded at $6.3760, with a volume of 283,396 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Northland Capmk raised Sequans Communications to a “strong-buy” rating in a research report on Monday, August 11th. Northland Securities began coverage on Sequans Communications in a research report on Monday, August 11th. They issued an “outperform” rating and a $3.50 price target for the company. B. Riley initiated coverage on shares of Sequans Communications in a report on Thursday, October 16th. They set a “buy” rating and a $13.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sequans Communications in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $8.25.

Sequans Communications Price Performance

The stock has a fifty day moving average of $6.83 and a 200 day moving average of $3.56. The firm has a market capitalization of $91.38 million, a P/E ratio of 0.34 and a beta of 0.35.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in SQNS. XTX Topco Ltd bought a new position in Sequans Communications during the first quarter valued at about $70,000. Meteora Capital LLC bought a new stake in Sequans Communications in the second quarter worth about $74,000. Krilogy Financial LLC purchased a new position in Sequans Communications in the third quarter valued at about $568,000. Groupe la Francaise purchased a new position in Sequans Communications in the first quarter valued at about $988,000. Finally, Credit Industriel ET Commercial grew its position in shares of Sequans Communications by 48.8% during the 2nd quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock valued at $879,000 after acquiring an additional 196,162 shares during the period. 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Company Profile

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.