Sequans Communications (NYSE:SQNS) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Sequans Communications S.A. (NYSE:SQNS – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.41 and traded as high as $5.01. Sequans Communications shares last traded at $4.8950, with a volume of 159,934 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on SQNS. Lake Street Capital initiated coverage on Sequans Communications in a report on Wednesday, December 10th. They set 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 research note on Monday. Finally, B. Riley reduced their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. One 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, Sequans Communications has a consensus rating of “Moderate Buy” and an average target price of $10.83.

Get Our Latest Research Report on SQNS

Sequans Communications Price Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97. The business has a 50 day moving average price of $6.28 and a 200-day moving average price of $4.41. The company has a market capitalization of $68.35 million, a price-to-earnings ratio of -0.59 and a beta of 0.26.

Institutional Trading of Sequans Communications

Large investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in shares of Sequans Communications during the third quarter valued at approximately $26,000. Boothbay Fund Management LLC grew its position in Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after purchasing an additional 25,000 shares during the period. Meteora Capital LLC bought a new stake in Sequans Communications during the 2nd quarter valued at $74,000. Krilogy Financial LLC acquired a new position in Sequans Communications during the third quarter worth $568,000. Finally, Moore Capital Management LP bought a new position in shares of Sequans Communications in the third quarter valued at $581,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

(Get Free Report)

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.

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