Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

Sequans Communications S.A. (NYSE:SQNS) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 94,388 shares, an increase of 83.0% from the May 31st total of 51,566 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 171,351 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

SQNS has been the subject of several research reports. Zacks Research lowered shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Wall Street Zen downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.33.

Sequans Communications Stock Down 3.6%

Shares of NYSE SQNS opened at $3.28 on Thursday. The stock has a market capitalization of $49.09 million, a P/E ratio of -0.24 and a beta of 0.80. Sequans Communications has a one year low of $2.38 and a one year high of $58.30. The firm’s 50 day simple moving average is $3.56 and its two-hundred day simple moving average is $3.73. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42.

Hedge Funds Weigh In On Sequans Communications

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in Sequans Communications in the 3rd quarter worth $26,000. SmartHarvest Portfolios LLC bought a new position in shares of Sequans Communications during the first quarter valued at about $60,000. XTX Topco Ltd bought a new position in shares of Sequans Communications during the fourth quarter valued at about $73,000. Virtu Financial LLC purchased a new position in shares of Sequans Communications in the fourth quarter worth about $75,000. Finally, J. Derek Lewis & Associates Inc. purchased a new position in shares of Sequans Communications in the fourth quarter worth about $85,000. Institutional investors own 63.33% of the company’s stock.

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.