Sequans Communications S.A. (NYSE:SQNS) Receives Average Rating of “Moderate Buy” from Analysts

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

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

Sequans Communications Price Performance

Shares of NYSE SQNS opened at $2.50 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.02. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $14.20. The firm has a 50-day moving average price of $3.29 and a 200 day moving average price of $3.42. The stock has a market capitalization of $37.45 million, a price-to-earnings ratio of -0.19 and a beta of 0.79.

Hedge Funds Weigh In On Sequans Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new stake in Sequans Communications during the fourth quarter worth $1,337,000. Credit Industriel ET Commercial raised its stake in shares of Sequans Communications by 214.3% during the 4th quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock worth $988,000 after buying an additional 150,000 shares during the last quarter. BRC Group Holdings Inc. raised its stake in shares of Sequans Communications by 30.8% during the 4th quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after buying an additional 246,922 shares during the last quarter. Moore Capital Management LP purchased a new stake in shares of Sequans Communications in the 3rd quarter worth about $581,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Sequans Communications in the 4th quarter worth about $443,000. 63.33% of the stock is owned by institutional investors and hedge funds.

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.