Sequans Communications (NYSE:SQNS) Major Shareholder Acquires $104,001.40 in Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher bought 19,660 shares of Sequans Communications stock in a transaction on Tuesday, January 20th. The shares were purchased at an average cost of $5.29 per share, with a total value of $104,001.40. Following the completion of the purchase, the insider directly owned 1,873,078 shares in the company, valued at $9,908,582.62. This trade represents a 1.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, January 21st, Daniel Asher purchased 22,600 shares of Sequans Communications stock. The stock was purchased at an average price of $5.24 per share, for a total transaction of $118,424.00.
• On Friday, January 16th, Daniel Asher purchased 11,631 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.65 per share, for a total transaction of $65,715.15.
• On Thursday, January 15th, Daniel Asher acquired 28,200 shares of Sequans Communications stock. The shares were acquired at an average price of $5.65 per share, with a total value of $159,330.00.
• On Wednesday, January 14th, Daniel Asher acquired 15,100 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher bought 57,809 shares of Sequans Communications stock. The stock was acquired at an average price of $5.51 per share, for a total transaction of $318,527.59.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher purchased 27,032 shares of Sequans Communications stock. The stock was acquired at an average cost 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 shares were acquired at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Price Performance

Shares of NYSE SQNS opened at $5.32 on Friday. Sequans Communications S.A. has a fifty-two week low of $4.44 and a fifty-two week high of $58.30. The firm’s 50-day simple moving average is $5.46 and its 200 day simple moving average is $10.07. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68. The stock has a market cap of $76.29 million, a P/E ratio of -0.66 and a beta of 0.22.

Institutional Trading of Sequans Communications

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new position in shares of Sequans Communications in the third quarter valued at $26,000. Meteora Capital LLC acquired a new position in shares of Sequans Communications in the 2nd quarter worth $74,000. Krilogy Financial LLC acquired a new stake in shares of Sequans Communications during the third quarter worth $568,000. Moore Capital Management LP acquired a new stake in shares of Sequans Communications during the third quarter worth $581,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Sequans Communications during the third quarter valued at $2,590,000. 63.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SQNS shares. Lake Street Capital began coverage on shares of Sequans Communications in a report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective for the company. B. Riley cut 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 reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.33.

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.