Sequans Communications S.A. (NYSE:SQNS) Short Interest Down 38.3% in May

Sequans Communications S.A. (NYSE:SQNSGet Rating) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 163,700 shares, a decline of 38.3% from the April 30th total of 265,200 shares. Based on an average daily volume of 151,200 shares, the short-interest ratio is presently 1.1 days. Approximately 0.4% of the shares of the company are sold short.

NYSE:SQNS traded up $0.17 during mid-day trading on Friday, reaching $3.20. The stock had a trading volume of 85,162 shares, compared to its average volume of 129,939. The firm has a 50 day moving average price of $2.82 and a two-hundred day moving average price of $3.89. The stock has a market capitalization of $152.45 million, a P/E ratio of -16.00 and a beta of 0.90. Sequans Communications has a one year low of $2.28 and a one year high of $6.84.

Sequans Communications (NYSE:SQNSGet Rating) last released its earnings results on Tuesday, May 3rd. The semiconductor company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.08. The firm had revenue of $13.89 million during the quarter, compared to the consensus estimate of $13.80 million. During the same quarter in the previous year, the firm earned ($0.18) EPS. Equities research analysts anticipate that Sequans Communications will post -0.38 earnings per share for the current year.

A number of research firms have recently commented on SQNS. Zacks Investment Research cut Sequans Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. StockNews.com initiated coverage on Sequans Communications in a report on Tuesday, May 10th. They set a “hold” rating for the company. Finally, B. Riley cut their price objective on Sequans Communications from $8.00 to $6.00 in a report on Wednesday, May 4th.

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in Sequans Communications in the 3rd quarter worth approximately $50,000. Eidelman Virant Capital bought a new stake in Sequans Communications in the first quarter valued at approximately $45,000. Equitec Proprietary Markets LLC bought a new stake in Sequans Communications in the first quarter valued at approximately $76,000. Citadel Advisors LLC bought a new stake in Sequans Communications in the second quarter valued at approximately $188,000. Finally, Advisor Group Holdings Inc. lifted its position in Sequans Communications by 9.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 49,056 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 4,400 shares during the last quarter. Institutional investors own 99.44% of the company’s stock.

Sequans Communications Company Profile (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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