Sequans Communications (NYSE:SQNS) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Sequans Communications S.A. (NYSE:SQNS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.41 and traded as high as $5.01. Sequans Communications shares last traded at $4.8950, with a volume of 159,934 shares trading hands.

Analyst Ratings Changes

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

Sequans Communications Stock Performance

The business has a 50 day moving average of $6.34 and a 200-day moving average of $4.41. The company has a market capitalization of $70.15 million, a P/E ratio of -0.61 and a beta of 0.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97.

Hedge Funds Weigh In On Sequans Communications

Large investors have recently modified their holdings of the company. Hood River Capital Management LLC purchased a new stake in Sequans Communications in the 2nd quarter worth approximately $20,746,000. NewGen Equity Long Short Fund purchased a new position in Sequans Communications during the second quarter worth about $4,638,000. NewGen Asset Management Ltd bought a new position in Sequans Communications in the 2nd quarter worth about $4,638,000. Yorkville Advisors Global LP bought a new position in Sequans Communications in the 3rd quarter worth about $7,218,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Sequans Communications in the 3rd quarter valued at about $2,590,000. 63.33% of the stock is currently owned by institutional investors.

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.