Sequans Communications (NYSE:SQNS) Shares Cross Above Two Hundred Day Moving Average of $2.38

Sequans Communications S.A. (NYSE:SQNS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.38 and traded as high as $2.83. Sequans Communications shares last traded at $2.83, with a volume of 290,955 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SQNS shares. B. Riley cut Sequans Communications from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.50 to $3.03 in a research note on Monday, August 7th. StockNews.com initiated coverage on shares of Sequans Communications in a research report on Thursday, August 17th. They set a “sell” rating for the company. Finally, Robert W. Baird cut their price target on shares of Sequans Communications from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th.

Sequans Communications Trading Up 0.4 %

The company has a market capitalization of $165.43 million, a P/E ratio of -6.74 and a beta of 0.88. The stock’s 50 day moving average is $2.57 and its 200-day moving average is $2.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.55 and a quick ratio of 0.44.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings results on Monday, August 7th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Sequans Communications had a negative net margin of 41.11% and a negative return on equity of 458.43%. The company had revenue of $9.16 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, equities research analysts anticipate that Sequans Communications S.A. will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Sequans Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG increased its position in shares of Sequans Communications by 265.0% during the third quarter. UBS Group AG now owns 14,801 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 10,746 shares in the last quarter. Susquehanna International Group LLP increased its position in shares of Sequans Communications by 28.1% during the fourth quarter. Susquehanna International Group LLP now owns 21,654 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,751 shares in the last quarter. Belvedere Trading LLC bought a new stake in shares of Sequans Communications during the second quarter valued at approximately $51,000. Millennium Management LLC bought a new stake in shares of Sequans Communications during the fourth quarter valued at approximately $113,000. Finally, Equitec Proprietary Markets LLC bought a new stake in shares of Sequans Communications during the second quarter valued at approximately $85,000. Institutional investors own 64.71% of the company’s stock.

Sequans Communications Company Profile

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.