Sequans Communications (NYSE:SQNS) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Sequans Communications (NYSE:SQNS – Get Rating) from a hold rating to a sell rating in a research note released on Monday.

Several other research analysts have also weighed in on the stock. B. Riley reduced their price objective on shares of Sequans Communications from $8.00 to $7.00 and set a buy rating on the stock in a research note on Wednesday, February 15th. Needham & Company LLC reduced their price objective on shares of Sequans Communications from $7.00 to $5.00 and set a buy rating on the stock in a research note on Thursday, February 16th.

Sequans Communications Stock Down 4.0 %

Shares of NYSE:SQNS opened at $2.30 on Monday. Sequans Communications has a one year low of $2.25 and a one year high of $4.17. The company has a 50 day moving average of $2.90 and a 200-day moving average of $3.38. The company has a debt-to-equity ratio of 23.26, a current ratio of 1.10 and a quick ratio of 0.84. The stock has a market cap of $110.00 million, a price-to-earnings ratio of -12.08 and a beta of 0.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SQNS. Masters Capital Management LLC lifted its stake in Sequans Communications by 2.4% in the fourth quarter. Masters Capital Management LLC now owns 1,000,000 shares of the semiconductor company’s stock valued at $3,320,000 after buying an additional 23,210 shares in the last quarter. Millennium Management LLC bought a new position in Sequans Communications in the fourth quarter valued at approximately $113,000. North Run Capital LP lifted its stake in Sequans Communications by 3.7% in the fourth quarter. North Run Capital LP now owns 1,270,034 shares of the semiconductor company’s stock valued at $4,217,000 after buying an additional 44,877 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in Sequans Communications by 63.2% in the fourth quarter. Boothbay Fund Management LLC now owns 1,550,228 shares of the semiconductor company’s stock valued at $5,147,000 after buying an additional 600,193 shares in the last quarter. Finally, B. Riley Asset Management LLC lifted its stake in Sequans Communications by 12.8% in the fourth quarter. B. Riley Asset Management LLC now owns 5,202,637 shares of the semiconductor company’s stock valued at $17,273,000 after buying an additional 590,000 shares in the last quarter. Institutional investors own 54.45% of the company’s stock.

About Sequans Communications

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Sequans Communications SA engages in the design, development, and supply of cellular semiconductor solutions for the broadband and Internet of Things (IoT) markets. The firm offers 5G and 4G chips and modules for non-smartphone devices. Its products and solutions include chips, modules, development kits, and custom technology solutions.