Sequans Communications (NYSE:SQNS) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Sequans Communications (NYSE:SQNS) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on SQNS. Wall Street Zen cut Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sequans Communications presently has an average rating of “Moderate Buy” and an average price target of $20.33.

Sequans Communications Stock Down 1.4%

Shares of NYSE SQNS opened at $3.25 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42. The stock has a market capitalization of $48.61 million, a PE ratio of -0.24 and a beta of 0.79. Sequans Communications has a one year low of $2.38 and a one year high of $58.30. The business’s fifty day moving average price is $3.59 and its 200-day moving average price is $3.65.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SQNS. Bank of America Corp DE purchased a new stake in shares of Sequans Communications in the third quarter worth about $26,000. SmartHarvest Portfolios LLC purchased a new position in Sequans Communications during the first quarter valued at approximately $60,000. XTX Topco Ltd bought a new stake in Sequans Communications during the 4th quarter worth approximately $73,000. Virtu Financial LLC bought a new stake in Sequans Communications during the 4th quarter worth approximately $75,000. Finally, J. Derek Lewis & Associates Inc. purchased a new stake in Sequans Communications in the 4th quarter worth approximately $85,000. 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.