Short Interest in Sequans Communications S.A. (NYSE:SQNS) Declines By 30.3%

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 345,400 shares, a drop of 30.3% from the September 30th total of 495,900 shares. Based on an average daily volume of 458,700 shares, the short-interest ratio is presently 0.8 days. Currently, 13.6% of the company’s stock are sold short. Currently, 13.6% of the company’s stock are sold short. Based on an average daily volume of 458,700 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Northland Securities assumed coverage on shares of Sequans Communications in a research report on Monday, August 11th. They set an “outperform” rating and a $3.50 price target on the stock. Wall Street Zen cut shares of Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Northland Capmk upgraded shares of Sequans Communications to a “strong-buy” rating in a research note on Monday, August 11th. B. Riley initiated coverage on shares of Sequans Communications in a report on Thursday, October 16th. They issued a “buy” rating and a $13.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sequans Communications in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.25.

Institutional Investors Weigh In On Sequans Communications

Several large investors have recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $20,746,000. NewGen Equity Long Short Fund acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $4,638,000. NewGen Asset Management Ltd acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $4,638,000. Boothbay Fund Management LLC increased its stake 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 valued at $2,460,000 after purchasing an additional 25,000 shares during the period. Finally, AMH Equity Ltd increased its stake in shares of Sequans Communications by 14.8% in the first quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company’s stock valued at $1,680,000 after purchasing an additional 103,058 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.

Sequans Communications Trading Down 4.1%

NYSE SQNS traded down $0.30 during trading hours on Monday, reaching $7.04. The company’s stock had a trading volume of 326,446 shares, compared to its average volume of 282,655. The business has a 50-day simple moving average of $6.19 and a 200 day simple moving average of $3.38. Sequans Communications has a 52 week low of $6.88 and a 52 week high of $58.30. The stock has a market cap of $100.90 million, a PE ratio of 0.38 and a beta of 0.46.

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.