Daniel Asher Purchases 6,800 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 6,800 shares of the stock in a transaction dated Monday, January 12th. The stock was bought at an average price of $5.36 per share, for a total transaction of $36,448.00. Following the purchase, the insider owned 1,227,235 shares of the company’s stock, valued at $6,577,979.60. The trade was a 0.56% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, January 9th, Daniel Asher bought 27,032 shares of Sequans Communications stock. The shares were bought at an average price of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 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 Performance

NYSE SQNS opened at $5.80 on Thursday. The company’s fifty day moving average is $5.58 and its two-hundred day moving average is $4.74. Sequans Communications S.A. has a 52-week low of $4.44 and a 52-week high of $58.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.97 and a quick ratio of 0.87. The firm has a market capitalization of $83.04 million, a price-to-earnings ratio of -0.72 and a beta of 0.22.

Wall Street Analyst Weigh In

A number of analysts have commented on SQNS shares. Lake Street Capital initiated coverage on Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. Finally, B. Riley reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE acquired a new stake in shares of Sequans Communications in the 3rd quarter valued at $26,000. Meteora Capital LLC bought a new position in Sequans Communications during the 2nd quarter valued at about $74,000. Krilogy Financial LLC acquired a new position in Sequans Communications in the third quarter valued at about $568,000. Moore Capital Management LP bought a new stake in Sequans Communications during the third quarter worth about $581,000. Finally, Credit Industriel ET Commercial grew its stake in Sequans Communications by 48.8% during the second quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock worth $879,000 after buying an additional 196,162 shares during the last quarter. 63.33% of the stock is 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.