Sequans Communications S.A. (NYSE:SQNS) Sees Large Decrease in Short Interest

Sequans Communications S.A. (NYSE:SQNS) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 425,164 shares, a decrease of 17.1% from the December 15th total of 512,861 shares. Based on an average trading volume of 203,543 shares, the short-interest ratio is currently 2.1 days. Currently, 3.3% of the shares of the company are short sold. Currently, 3.3% of the shares of the company are short sold. Based on an average trading volume of 203,543 shares, the short-interest ratio is currently 2.1 days.

Sequans Communications Stock Up 1.6%

Shares of SQNS opened at $5.64 on Monday. Sequans Communications has a 12 month low of $4.44 and a 12 month high of $58.30. The firm’s 50 day moving average is $5.56 and its 200-day moving average is $4.83. The stock has a market capitalization of $80.82 million, a PE ratio of -0.70 and a beta of 0.22. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SQNS. Lake Street Capital started 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 on the stock. B. Riley lowered their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sequans Communications has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Insider Transactions at Sequans Communications

In related news, major shareholder Daniel Asher acquired 15,100 shares of Sequans Communications stock in a transaction on Wednesday, January 14th. The stock was purchased at an average cost of $5.69 per share, with a total value of $85,919.00. Following the completion of the transaction, the insider directly owned 1,813,587 shares in the company, valued at $10,319,310.03. This trade represents a 0.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 128,641 shares of company stock worth $683,584. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Sequans Communications

Several large investors have recently made changes to their positions in the company. Credit Industriel ET Commercial raised its position in Sequans Communications by 48.8% during the second quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock valued at $879,000 after purchasing an additional 196,162 shares in the last quarter. NewGen Equity Long Short Fund acquired a new position in Sequans Communications in the second quarter valued at $4,638,000. Hood River Capital Management LLC acquired a new stake in Sequans Communications during the second quarter worth approximately $20,746,000. Meteora Capital LLC acquired a new position in shares of Sequans Communications during the 2nd quarter valued at $74,000. Finally, Boothbay Fund Management LLC grew its stake in shares of Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after buying an additional 25,000 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

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.