Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Acquires 57,809 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 57,809 shares of the stock in a transaction on Tuesday, January 13th. The shares were purchased at an average cost of $5.51 per share, for a total transaction of $318,527.59. Following the acquisition, the insider directly owned 1,789,487 shares of the company’s stock, valued at approximately $9,860,073.37. This represents a 3.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, January 14th, Daniel Asher acquired 15,100 shares of Sequans Communications stock. The shares were purchased at an average price of $5.69 per share, for a total transaction of $85,919.00.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The stock was purchased at an average cost of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher purchased 27,032 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The stock was acquired at an average cost of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Stock Down 3.4%

Shares of SQNS opened at $5.59 on Friday. The business’s 50 day moving average is $5.57 and its 200 day moving average is $4.75. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a 12-month low of $4.44 and a 12-month high of $58.30. The company has a market capitalization of $80.03 million, a PE ratio of -0.69 and a beta of 0.22.

Institutional Trading of Sequans Communications

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE purchased a new stake in Sequans Communications in the 3rd quarter worth about $26,000. Meteora Capital LLC purchased a new stake in shares of Sequans Communications in the second quarter worth approximately $74,000. Krilogy Financial LLC purchased a new stake in shares of Sequans Communications in the third quarter worth approximately $568,000. Moore Capital Management LP bought a new stake in shares of Sequans Communications during the 3rd quarter worth approximately $581,000. Finally, Alyeska Investment Group L.P. bought a new position in Sequans Communications in the 3rd quarter valued at $2,590,000. 63.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SQNS has been the topic of several research analyst reports. B. Riley decreased their price target on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Lake Street Capital assumed coverage on Sequans Communications in a report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.