Sequans Communications S.A. (NYSE:SQNS) Given Average Rating of “Moderate Buy” by Brokerages

Sequans Communications S.A. (NYSE:SQNS) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $20.3333.

A number of brokerages have commented on SQNS. Zacks Research upgraded Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen cut Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 27th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC boosted its stake in shares of Sequans Communications by 1.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after purchasing an additional 25,000 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Sequans Communications during the third quarter worth about $26,000. Moore Capital Management LP acquired a new position in shares of Sequans Communications in the third quarter valued at approximately $581,000. Alyeska Investment Group L.P. acquired a new position in shares of Sequans Communications in the third quarter valued at approximately $2,590,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of Sequans Communications during the fourth quarter valued at approximately $1,337,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Sequans Communications Stock Performance

Shares of SQNS opened at $2.50 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42. Sequans Communications has a 1-year low of $2.38 and a 1-year high of $14.20. The stock has a market cap of $37.45 million, a price-to-earnings ratio of -0.19 and a beta of 0.79. The firm has a 50 day simple moving average of $3.29 and a 200-day simple moving average of $3.42.

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.