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

Sequans Communications S.A. (NYSE:SQNSGet Rating) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 246,800 shares, a drop of 31.5% from the March 15th total of 360,400 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 140,900 shares, the days-to-cover ratio is currently 1.8 days.

A number of brokerages have weighed in on SQNS. StockNews.com initiated coverage on Sequans Communications in a research report on Thursday, March 24th. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, B. Riley reduced their target price on shares of Sequans Communications from $11.00 to $8.00 in a report on Wednesday, February 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.13.

Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. purchased a new stake in Sequans Communications in the 3rd quarter worth approximately $75,000. Goldman Sachs Group Inc. purchased a new position in shares of Sequans Communications during the 3rd quarter valued at approximately $50,000. Eidelman Virant Capital purchased a new position in shares of Sequans Communications during the 1st quarter valued at approximately $45,000. Shay Capital LLC lifted its position in shares of Sequans Communications by 55.0% during the 4th quarter. Shay Capital LLC now owns 75,000 shares of the semiconductor company’s stock valued at $356,000 after buying an additional 26,625 shares in the last quarter. Finally, Lynrock Lake LP lifted its position in shares of Sequans Communications by 9.0% during the 4th quarter. Lynrock Lake LP now owns 4,483,889 shares of the semiconductor company’s stock valued at $21,254,000 after buying an additional 370,062 shares in the last quarter. Institutional investors and hedge funds own 80.73% of the company’s stock.

NYSE SQNS traded down $0.07 during trading hours on Friday, reaching $2.63. The stock had a trading volume of 19,989 shares, compared to its average volume of 142,621. The stock has a fifty day moving average of $3.37 and a 200 day moving average of $4.29. The stock has a market cap of $125.29 million, a P/E ratio of -4.61 and a beta of 0.81. Sequans Communications has a 52-week low of $2.56 and a 52-week high of $6.84.

Sequans Communications (NYSE:SQNSGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The semiconductor company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.06. The company had revenue of $13.81 million during the quarter, compared to analysts’ expectations of $13.70 million. During the same quarter in the prior year, the company posted ($0.32) EPS. On average, equities analysts forecast that Sequans Communications will post -0.44 earnings per share for the current fiscal year.

About Sequans Communications (Get Rating)

Sequans Communications SA designs, develops, and supplies cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, South Korea, China, rest of Asia, the United States, and internationally. It offers a set of 5G/4G chips and modules for non-smartphone devices.

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