Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Buys 27,032 Shares

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 27,032 shares of the company’s stock in a transaction on Friday, January 9th. The shares were bought at an average price of $5.00 per share, with a total value of $135,160.00. Following the completion of the transaction, the insider owned 1,220,435 shares of the company’s stock, valued at approximately $6,102,175. The trade was a 2.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Daniel Asher also recently made the following trade(s):

• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was bought at an average price of $5.36 per share, for a total transaction of $36,448.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The shares were bought at an average cost of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Trading Up 2.9%

Sequans Communications stock traded up $0.16 during trading on Tuesday, hitting $5.50. The company had a trading volume of 212,381 shares, compared to its average volume of 132,410. The stock has a market cap of $78.74 million, a price-to-earnings ratio of -0.68 and a beta of 0.22. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a 1-year low of $4.44 and a 1-year high of $58.30. The company’s 50 day simple moving average is $5.59 and its 200-day simple moving average is $4.71.

Analyst Ratings Changes

SQNS has been the topic of several research reports. B. Riley decreased their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Lake Street Capital assumed coverage on shares of Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yorkville Advisors Global LP purchased a new position in Sequans Communications in the third quarter valued at $7,218,000. Alyeska Investment Group L.P. acquired a new position in shares of Sequans Communications during the 3rd quarter worth about $2,590,000. Moore Capital Management LP purchased a new position in shares of Sequans Communications in the 3rd quarter valued at about $581,000. Bank of America Corp DE acquired a new stake in shares of Sequans Communications during the 3rd quarter worth about $26,000. Finally, Krilogy Financial LLC acquired a new stake in shares of Sequans Communications during the 3rd quarter worth about $568,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

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.