Insider Buying: Sequans Communications (NYSE:SQNS) Major Shareholder Buys 12,300 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher bought 12,300 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was acquired at an average price of $5.12 per share, for a total transaction of $62,976.00. Following the completion of the purchase, the insider directly owned 140,011,100 shares in the company, valued at approximately $716,856,832. The trade was a 0.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Wednesday, January 21st, Daniel Asher acquired 22,600 shares of Sequans Communications stock. The shares were bought at an average price of $5.24 per share, for a total transaction of $118,424.00.
• On Tuesday, January 20th, Daniel Asher purchased 19,660 shares of Sequans Communications stock. The shares were purchased at an average price of $5.29 per share, for a total transaction of $104,001.40.
• On Friday, January 16th, Daniel Asher acquired 11,631 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.65 per share, for a total transaction of $65,715.15.
• On Thursday, January 15th, Daniel Asher acquired 28,200 shares of Sequans Communications stock. The stock was bought at an average price of $5.65 per share, with a total value of $159,330.00.
• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were purchased at an average price of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher acquired 57,809 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.51 per share, with a total value of $318,527.59.
• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was acquired at an average price of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher purchased 27,032 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher bought 21,900 shares of Sequans Communications stock. The stock was bought at an average cost of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Stock Down 2.0%

Sequans Communications stock traded down $0.11 during trading hours on Wednesday, hitting $5.13. 95,765 shares of the stock traded hands, compared to its average volume of 202,104. Sequans Communications S.A. has a one year low of $4.44 and a one year high of $58.30. The firm’s 50-day moving average price is $5.42 and its two-hundred day moving average price is $9.48. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The company has a market cap of $73.44 million, a PE ratio of -0.63 and a beta of 0.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SQNS. Hood River Capital Management LLC purchased a new stake in shares of Sequans Communications in the second quarter worth about $20,746,000. NewGen Equity Long Short Fund bought a new position in shares of Sequans Communications during the 2nd quarter valued at approximately $4,638,000. NewGen Asset Management Ltd purchased a new position in shares of Sequans Communications in the second quarter valued at $4,638,000. Yorkville Advisors Global LP purchased a new position in shares of Sequans Communications in the third quarter valued at $7,218,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Sequans Communications in the 3rd quarter worth $2,590,000. Institutional investors own 63.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SQNS. B. Riley decreased their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Finally, Lake Street Capital began coverage on Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sequans Communications currently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

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.