Daniel Asher Purchases 11,631 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 11,631 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was purchased at an average cost of $5.65 per share, for a total transaction of $65,715.15. Following the transaction, the insider owned 1,853,418 shares in the company, valued at approximately $10,471,811.70. The trade was a 0.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large 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 Thursday, January 15th, Daniel Asher purchased 28,200 shares of Sequans Communications stock. The shares were acquired at an average price of $5.65 per share, for a total transaction of $159,330.00.
• On Wednesday, January 14th, Daniel Asher acquired 15,100 shares of Sequans Communications stock. The stock was purchased at an average price of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher purchased 57,809 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.51 per share, for a total transaction of $318,527.59.
• On Monday, January 12th, Daniel Asher purchased 6,800 shares of Sequans Communications stock. The shares were purchased at an average price of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher acquired 27,032 shares of Sequans Communications stock. The shares were bought at an average price of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The stock was purchased at an average price of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Stock Up 1.9%

Shares of SQNS opened at $5.38 on Thursday. Sequans Communications S.A. has a 52-week low of $4.44 and a 52-week high of $58.30. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $10.24. The company has a market capitalization of $77.10 million, a PE ratio of -0.67 and a beta of 0.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC acquired a new position in shares of Sequans Communications during the 2nd quarter worth $20,746,000. NewGen Equity Long Short Fund acquired a new position in Sequans Communications during the second quarter worth about $4,638,000. NewGen Asset Management Ltd acquired a new position in Sequans Communications during the second quarter worth about $4,638,000. Boothbay Fund Management LLC lifted its holdings 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 purchasing an additional 25,000 shares in the last quarter. Finally, Yorkville Advisors Global LP acquired a new stake in shares of Sequans Communications in the third quarter valued at approximately $7,218,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SQNS shares. B. Riley lowered their price objective on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Finally, Lake Street Capital began coverage on shares of Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

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.