Sequans Communications S.A. (NYSE:SQNS) Sees Significant Drop in Short Interest

Sequans Communications S.A. (NYSE:SQNS) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totaling 73,196 shares, a decrease of 40.9% from the April 30th total of 123,881 shares. Based on an average daily trading volume, of 288,291 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.6% of the shares of the stock are short sold.

Sequans Communications Trading Down 6.8%

Shares of Sequans Communications stock opened at $4.15 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.02. The firm has a market cap of $62.11 million, a PE ratio of -0.31 and a beta of 0.77. The business’s fifty day moving average is $3.26 and its two-hundred day moving average is $4.15. Sequans Communications has a fifty-two week low of $2.38 and a fifty-two week high of $58.30.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SQNS. Bank of America Corp DE purchased a new position in shares of Sequans Communications in the 3rd quarter worth $26,000. SmartHarvest Portfolios LLC purchased a new position in shares of Sequans Communications in the 1st quarter worth $60,000. XTX Topco Ltd purchased a new position in shares of Sequans Communications in the 4th quarter worth $73,000. Virtu Financial LLC purchased a new position in shares of Sequans Communications in the 4th quarter worth $75,000. Finally, J. Derek Lewis & Associates Inc. purchased a new position in shares of Sequans Communications in the 4th quarter worth $85,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SQNS shares. Zacks Research lowered Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. B. Riley Financial reduced their price target on Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Sequans Communications currently has an average rating of “Hold” and a consensus price target of $20.33.

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.