Sequans Communications (NYSE:SQNS) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Sequans Communications S.A. (NYSE:SQNS) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.72 and traded as high as $6.23. Sequans Communications shares last traded at $5.5750, with a volume of 209,927 shares trading hands.

Analyst Ratings Changes

SQNS has been the subject of several research reports. Northland Capmk raised Sequans Communications to a “strong-buy” rating in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research note on Monday. Northland Securities began coverage on shares of Sequans Communications in a research report on Monday, August 11th. They issued an “outperform” rating and a $3.50 price target for the company. Finally, B. Riley started coverage on shares of Sequans Communications in a research note on Thursday, October 16th. They set a “buy” rating and a $13.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.25.

Sequans Communications Stock Down 7.7%

The stock has a fifty day simple moving average of $7.46 and a 200-day simple moving average of $3.72. The company has a market capitalization of $79.90 million, a P/E ratio of 0.30 and a beta of 0.35.

Institutional Trading of Sequans Communications

Several hedge funds have recently modified their holdings of SQNS. Bank of America Corp DE acquired a new position in shares of Sequans Communications in the 3rd quarter worth approximately $26,000. XTX Topco Ltd bought a new position in Sequans Communications in the 1st quarter valued at $70,000. Meteora Capital LLC acquired a new position in Sequans Communications in the second quarter worth $74,000. Krilogy Financial LLC bought a new stake in shares of Sequans Communications during the third quarter worth $568,000. Finally, Moore Capital Management LP bought a new stake in shares of Sequans Communications during the third quarter worth $581,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

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.