Sequans Communications SA (NYSE:SQNS) shares rose 19% during mid-day trading on Wednesday . The company traded as high as $2.80 and last traded at $2.76, approximately 268,500 shares changed hands during mid-day trading. An increase of 544% from the average daily volume of 41,679 shares. The stock had previously closed at $2.32.

Several equities analysts have commented on the company. Zacks Investment Research upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Canaccord Genuity restated a “buy” rating and set a $6.00 price target on shares of Sequans Communications in a report on Friday, November 29th. Finally, ValuEngine raised Sequans Communications from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $8.33.

The stock has a market cap of $68.44 million, a P/E ratio of -1.96 and a beta of 2.66. The company’s 50 day moving average price is $1.05 and its 200-day moving average price is $0.94.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $7.47 million during the quarter, compared to the consensus estimate of $9.88 million. Sequans Communications had a negative return on equity of 5,040.51% and a negative net margin of 128.30%. As a group, equities research analysts forecast that Sequans Communications SA will post -1.22 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in shares of Sequans Communications in the 3rd quarter valued at about $112,000. Citadel Advisors LLC increased its stake in shares of Sequans Communications by 127.0% in the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 36,546 shares during the period. Finally, AWM Investment Company Inc. increased its stake in shares of Sequans Communications by 1.7% in the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock valued at $8,466,000 after buying an additional 155,418 shares during the period. 43.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Derivative

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