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Research analysts at Lake Street Capital assumed coverage on shares of Sequans Communications (NASDAQ:SQNS) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $2.50 price target on the stock. Lake Street Capital’s price target indicates a potential upside of 45.35% from the stock’s previous close.

Sequans Communications (NASDAQ:SQNS) traded up 0.58% on Thursday, hitting $1.74. The stock had a trading volume of 67,506 shares. Sequans Communications has a 52-week low of $1.42 and a 52-week high of $3.40. The stock has a 50-day moving average of $2.18 and a 200-day moving average of $2.32. The company’s market cap is $102.9 million.

Sequans Communications (NASDAQ:SQNS) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $4.50 million for the quarter, compared to the consensus estimate of $5.00 million. The company’s revenue for the quarter was up 95.7% on a year-over-year basis. On average, analysts predict that Sequans Communications will post $-0.46 earnings per share for the current fiscal year.

SQNS has been the subject of a number of other recent research reports. Analysts at Natixis cut their price target on shares of Sequans Communications from $2.20 to $1.80 in a research note on Monday, April 28th. Separately, analysts at Zacks downgraded shares of Sequans Communications from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 8th. They now have a $2.70 price target on the stock. Finally, analysts at Zacks upgraded shares of Sequans Communications from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 18th. They now have a $3.00 price target on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Sequans Communications currently has an average rating of “Buy” and an average target price of $3.00.

Sequans Communications SA (NASDAQ:SQNS) is a fabless designer, developer and supplier of fourth generation (4G) semiconductor solutions for wireless broadband applications.

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