Short Interest in Sequans Communications S.A. (NYSE:SQNS) Decreases By 17.1%

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 425,164 shares, a drop of 17.1% from the December 15th total of 512,861 shares. Based on an average daily volume of 203,543 shares, the short-interest ratio is currently 2.1 days. Approximately 3.3% of the company’s stock are sold short. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 203,543 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling at Sequans Communications

In other Sequans Communications news, major shareholder Daniel Asher bought 57,809 shares of the stock in a transaction dated Tuesday, January 13th. The stock was purchased at an average cost of $5.51 per share, for a total transaction of $318,527.59. Following the completion of the acquisition, the insider owned 1,789,487 shares of the company’s stock, valued at approximately $9,860,073.37. This trade represents a 3.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 128,641 shares of company stock worth $683,584 over the last ninety days. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds have recently bought and sold shares of SQNS. Hood River Capital Management LLC bought a new stake in shares of Sequans Communications in the second quarter worth approximately $20,746,000. NewGen Equity Long Short Fund bought a new position in Sequans Communications during the second quarter valued at approximately $4,638,000. NewGen Asset Management Ltd purchased a new stake in Sequans Communications in the second quarter worth approximately $4,638,000. Yorkville Advisors Global LP bought a new stake in Sequans Communications in the 3rd quarter worth approximately $7,218,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Sequans Communications during the 3rd quarter valued at $2,590,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Up 1.6%

Sequans Communications stock opened at $5.64 on Tuesday. The firm has a market cap of $80.82 million, a price-to-earnings ratio of -0.70 and a beta of 0.22. The stock has a fifty day simple moving average of $5.54 and a two-hundred day simple moving average of $4.86. Sequans Communications has a 12 month low of $4.44 and a 12 month high of $58.30. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Wall Street Analyst Weigh In

SQNS has been the subject of a number of recent research reports. Lake Street Capital initiated coverage on Sequans Communications in a research note on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective for the company. B. Riley lowered their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.83.

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.