Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Acquires 28,200 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 28,200 shares of the stock in a transaction dated Thursday, January 15th. The shares were purchased at an average cost of $5.65 per share, with a total value of $159,330.00. Following the completion of the purchase, the insider owned 1,841,787 shares of the company’s stock, valued at approximately $10,406,096.55. The trade was a 1.55% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, January 16th, Daniel Asher purchased 11,631 shares of Sequans Communications stock. The shares were acquired at an average price of $5.65 per share, for a total transaction of $65,715.15.
• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher acquired 57,809 shares of Sequans Communications stock. The stock was acquired at an average price of $5.51 per share, with a total value of $318,527.59.
• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was acquired at an average price of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher bought 27,032 shares of Sequans Communications stock. The shares were acquired at an average price of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The stock was acquired at an average cost of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Stock Performance

NYSE:SQNS opened at $5.30 on Wednesday. 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 firm’s fifty day simple moving average is $5.52 and its 200 day simple moving average is $10.27. The stock has a market cap of $75.99 million, a P/E ratio of -0.66 and a beta of 0.22. Sequans Communications S.A. has a twelve month low of $4.44 and a twelve month high of $58.30.

Institutional Investors Weigh In On Sequans Communications

Several hedge funds have recently bought and sold shares of SQNS. Credit Industriel ET Commercial lifted its holdings in shares of 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 during the last quarter. NewGen Equity Long Short Fund purchased a new stake in shares of Sequans Communications in the 2nd quarter worth approximately $4,638,000. Hood River Capital Management LLC bought a new position in Sequans Communications during the 2nd quarter valued at approximately $20,746,000. Meteora Capital LLC purchased a new position in Sequans Communications during the second quarter valued at $74,000. Finally, Boothbay Fund Management LLC boosted its holdings in 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 acquiring an additional 25,000 shares in the last quarter. Institutional investors own 63.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. B. Riley decreased their price target on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Lake Street Capital initiated coverage on Sequans Communications in a report on Wednesday, December 10th. They set a “buy” rating and a $18.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. 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’s stock. According to data from MarketBeat.com, Sequans Communications currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

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.