Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

Sequans Communications S.A. (NYSE:SQNS) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 531,882 shares, a growth of 32.8% from the January 15th total of 400,598 shares. Based on an average daily volume of 247,224 shares, the short-interest ratio is presently 2.2 days. Currently, 4.1% of the company’s stock are sold short. Currently, 4.1% of the company’s stock are sold short. Based on an average daily volume of 247,224 shares, the short-interest ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SQNS. Lake Street Capital began coverage on Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. Finally, B. Riley Financial lowered their price target on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.33.

Insider Activity

In other Sequans Communications news, major shareholder Daniel Asher acquired 57,809 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were bought at an average cost of $5.51 per share, with a total value of $318,527.59. Following the completion of the acquisition, the insider directly owned 1,789,487 shares in the company, valued at $9,860,073.37. This represents a 3.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 223,032 shares of company stock worth $1,194,030 in the last 90 days. 9.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in shares of Sequans Communications during the third quarter worth $26,000. Boothbay Fund Management LLC lifted its position in 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 acquiring an additional 25,000 shares during the period. Marshall Wace LLP grew its stake in Sequans Communications by 30.8% during the 4th quarter. Marshall Wace LLP now owns 145,424 shares of the semiconductor company’s stock valued at $653,000 after purchasing an additional 34,231 shares during the last quarter. Meteora Capital LLC purchased a new stake in Sequans Communications during the 2nd quarter valued at about $74,000. Finally, Krilogy Financial LLC acquired a new position in shares of Sequans Communications in the third quarter valued at about $568,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Down 4.7%

Shares of SQNS stock traded down $0.15 during trading hours on Tuesday, reaching $3.05. 101,957 shares of the company’s stock were exchanged, compared to its average volume of 225,179. Sequans Communications has a 1 year low of $2.97 and a 1 year high of $58.30. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 0.55. The stock has a market cap of $43.71 million, a PE ratio of -0.24 and a beta of 0.29. The stock’s fifty day moving average price is $4.83 and its two-hundred day moving average price is $7.28.

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.