Insider Buying: Sequans Communications (NYSE:SQNS) Major Shareholder Buys $318,527.59 in Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 57,809 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was purchased at an average price of $5.51 per share, with a total value of $318,527.59. Following the completion of the transaction, the insider directly owned 1,789,487 shares of the company’s stock, valued at $9,860,073.37. This trade represents a 3.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Daniel Asher also recently made the following trade(s):

• On Wednesday, January 14th, Daniel Asher bought 15,100 shares of Sequans Communications stock. The stock was purchased at an average price of $5.69 per share, for a total transaction of $85,919.00.
• On Monday, January 12th, Daniel Asher purchased 6,800 shares of Sequans Communications stock. The shares were purchased at an average price of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher acquired 27,032 shares of Sequans Communications stock. The stock was acquired at an average price of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The shares were acquired at an average cost of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Price Performance

Shares of NYSE SQNS opened at $5.64 on Friday. The firm has a market capitalization of $80.82 million, a P/E ratio of -0.70 and a beta of 0.22. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $5.56 and its two-hundred day simple moving average is $4.80. Sequans Communications S.A. has a twelve month low of $4.44 and a twelve month high of $58.30.

Hedge Funds Weigh In On Sequans Communications

Large investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new stake in Sequans Communications during the 2nd quarter valued at about $20,746,000. NewGen Equity Long Short Fund bought a new stake in Sequans Communications in the second quarter valued at approximately $4,638,000. NewGen Asset Management Ltd purchased a new stake in shares of Sequans Communications during the second quarter valued at approximately $4,638,000. Boothbay Fund Management LLC grew its holdings in shares of Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Yorkville Advisors Global LP purchased a new position in shares of Sequans Communications in the third quarter worth $7,218,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Lake Street Capital began coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. Finally, B. Riley lowered their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sequans Communications currently has a consensus rating of “Moderate Buy” and an average price target of $10.83.

Sequans Communications Company Profile

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.