Sequans Communications (NYSE:SQNS) Trading 20.2% Higher

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Sequans Communications SA (NYSE:SQNS)’s share price traded up 20.2% during trading on Tuesday . The stock traded as high as $0.57 and last traded at $0.57, 591,340 shares were traded during trading. An increase of 301% from the average session volume of 147,571 shares. The stock had previously closed at $0.47.

Several equities analysts have recently commented on the company. Roth Capital increased their price objective on Sequans Communications from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Zacks Investment Research upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, ValuEngine lowered Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.38.

The firm has a 50-day moving average of $0.78 and a 200-day moving average of $0.90. The firm has a market capitalization of $43.74 million, a P/E ratio of -1.57 and a beta of 2.69.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 5,040.51% and a negative net margin of 128.30%. The company had revenue of $7.47 million for the quarter, compared to the consensus estimate of $9.88 million. As a group, sell-side analysts anticipate that Sequans Communications SA will post -0.31 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in Sequans Communications during the 3rd quarter worth approximately $112,000. Citadel Advisors LLC grew its position in Sequans Communications by 127.0% during the 2nd quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 36,546 shares during the last quarter. Finally, AWM Investment Company Inc. grew its position in Sequans Communications by 1.7% during the 2nd quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock worth $8,466,000 after acquiring an additional 155,418 shares during the last quarter. Institutional investors and hedge funds own 30.97% of the company’s stock.

About Sequans Communications (NYSE:SQNS)

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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