Daniel Asher Buys 27,032 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 27,032 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were bought at an average price of $5.00 per share, for a total transaction of $135,160.00. Following the completion of the purchase, the insider directly owned 1,220,435 shares in the company, valued at $6,102,175. This represents a 2.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Daniel Asher also recently made the following trade(s):

• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was bought at an average price of $5.36 per share, with a total value of $36,448.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The shares were purchased at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Stock Performance

Shares of SQNS traded up $0.16 during midday trading on Tuesday, reaching $5.50. 212,381 shares of the stock were exchanged, compared to its average volume of 132,410. Sequans Communications S.A. has a twelve month low of $4.44 and a twelve month high of $58.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.97 and a quick ratio of 0.87. The company has a market capitalization of $78.74 million, a price-to-earnings ratio of -0.68 and a beta of 0.22. The business’s 50-day moving average price is $5.59 and its 200 day moving average price is $4.71.

Institutional Investors Weigh In On Sequans Communications

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new position in Sequans Communications during the third quarter worth $26,000. Boothbay Fund Management LLC increased its position in shares of Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after buying an additional 25,000 shares in the last quarter. Meteora Capital LLC acquired a new position in shares of Sequans Communications during the 2nd quarter worth $74,000. Krilogy Financial LLC purchased a new stake in shares of Sequans Communications in the 3rd quarter worth about $568,000. Finally, Moore Capital Management LP acquired a new stake in Sequans Communications in the 3rd quarter valued at about $581,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Lake Street Capital assumed 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 reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. Finally, B. Riley cut their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.83.

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.