Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

Sequans Communications S.A. (NYSE:SQNS) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 468,016 shares, a decline of 13.9% from the February 12th total of 543,594 shares. Based on an average daily volume of 100,001 shares, the short-interest ratio is currently 4.7 days. Currently, 3.6% of the shares of the stock are short sold. Currently, 3.6% of the shares of the stock are short sold. Based on an average daily volume of 100,001 shares, the short-interest ratio is currently 4.7 days.

Insider Transactions at Sequans Communications

In other Sequans Communications news, major shareholder Daniel Asher purchased 12,300 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were bought at an average price of $5.12 per share, with a total value of $62,976.00. Following the completion of the purchase, the insider directly owned 140,011,100 shares in the company, valued at $716,856,832. This trade represents a 0.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 223,032 shares of company stock worth $1,194,030 over the last quarter. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sequans Communications

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE bought a new position in Sequans Communications during the 3rd quarter valued at about $26,000. XTX Topco Ltd bought a new stake in Sequans Communications in the fourth quarter worth about $73,000. Meteora Capital LLC bought a new stake in Sequans Communications in the second quarter worth about $74,000. Virtu Financial LLC purchased a new position in shares of Sequans Communications during the fourth quarter valued at approximately $75,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Sequans Communications during the fourth quarter valued at approximately $101,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SQNS shares. Lake Street Capital started coverage on shares of Sequans Communications in a report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Finally, B. Riley Financial dropped their price target on 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 investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.33.

Sequans Communications Stock Performance

NYSE:SQNS opened at $3.15 on Thursday. The firm has a market capitalization of $45.13 million, a PE ratio of -0.25 and a beta of 0.37. The stock’s fifty day moving average is $3.91 and its 200 day moving average is $6.04. Sequans Communications has a fifty-two week low of $2.72 and a fifty-two week high of $58.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.79 and a current ratio of 0.89.

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.