Sequans Communications (NYSE:SQNS) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Sequans Communications S.A. (NYSE:SQNS) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.18 and traded as high as $3.30. Sequans Communications shares last traded at $3.30, with a volume of 136,552 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Sequans Communications Stock Performance

The firm has a market capitalization of $84.73 million, a price-to-earnings ratio of 2.40 and a beta of 0.36. The firm has a 50 day moving average price of $2.82 and a 200-day moving average price of $2.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.36 and a quick ratio of 1.33.

Institutional Trading of Sequans Communications

An institutional investor recently bought a new position in Sequans Communications stock. Oddo BHF Asset Management Sas purchased a new stake in Sequans Communications S.A. (NYSE:SQNS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,900,000 shares of the semiconductor company’s stock, valued at approximately $3,451,000. Oddo BHF Asset Management Sas owned approximately 11.60% of Sequans Communications at the end of the most recent reporting period. 63.33% of the stock is currently owned by institutional investors.

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.