Sequans Communications (NYSE:SQNS) Rating Lowered to Sell at Wall Street Zen

Sequans Communications (NYSE:SQNS) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other brokerages have also weighed in on SQNS. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Friday, March 27th. Zacks Research downgraded shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.33.

Sequans Communications Stock Performance

NYSE SQNS opened at $3.37 on Friday. The business’s 50-day moving average price is $3.52 and its 200 day moving average price is $3.81. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.02. Sequans Communications has a twelve month low of $2.38 and a twelve month high of $58.30. The company has a market capitalization of $50.47 million, a PE ratio of -0.25 and a beta of 0.78.

Hedge Funds Weigh In On Sequans Communications

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boothbay Fund Management LLC raised its holdings in Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after buying an additional 25,000 shares during the period. BRC Group Holdings Inc. grew its stake in Sequans Communications by 30.8% during the fourth quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after buying an additional 246,922 shares during the period. DRW Securities LLC acquired a new stake in shares of Sequans Communications in the fourth quarter worth $4,646,000. Yorkville Advisors Global LP purchased a new position in shares of Sequans Communications in the 3rd quarter valued at $7,218,000. Finally, Credit Industriel ET Commercial raised its stake in shares of Sequans Communications by 81.8% in the 1st quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after acquiring an additional 180,000 shares during the period. 63.33% of the stock is owned by institutional investors and hedge funds.

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.