Sequans Communications (NYSE:SQNS) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Sequans Communications (NYSE:SQNS) from a sell rating to a hold rating in a report published on Saturday.

Separately, Zacks Research raised Sequans Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sequans Communications currently has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Sequans Communications Stock Performance

Sequans Communications stock opened at $2.79 on Friday. The company’s 50-day moving average price is $3.10 and its 200-day moving average price is $3.32. Sequans Communications has a twelve month low of $2.38 and a twelve month high of $13.70. The company has a quick ratio of 0.42, a current ratio of 1.39 and a debt-to-equity ratio of 0.03. The company has a market cap of $41.82 million, a PE ratio of -0.27 and a beta of 0.83.

Hedge Funds Weigh In On Sequans Communications

Several hedge funds have recently added to or reduced their stakes in SQNS. Bank of America Corp DE bought a new stake in Sequans Communications in the third quarter worth about $26,000. XTX Topco Ltd purchased a new stake in shares of Sequans Communications in the fourth quarter worth approximately $73,000. Virtu Financial LLC bought a new stake in shares of Sequans Communications during the 4th quarter worth approximately $75,000. J. Derek Lewis & Associates Inc. bought a new stake in shares of Sequans Communications during the 4th quarter worth approximately $85,000. Finally, Quadrature Capital Ltd purchased a new position in Sequans Communications during the 4th quarter valued at $101,000. 63.33% of the stock is currently owned by institutional investors.

About Sequans Communications

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.