Sequans Communications (NYSE:SQNS) Major Shareholder Purchases $107,529.00 in Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 21,900 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were acquired at an average cost of $4.91 per share, for a total transaction of $107,529.00. Following the completion of the purchase, the insider directly owned 1,193,403 shares of the company’s stock, valued at approximately $5,859,608.73. This represents a 1.87% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Sequans Communications Trading Up 0.8%

Shares of SQNS traded up $0.04 during mid-day trading on Friday, reaching $5.02. The company’s stock had a trading volume of 141,909 shares, compared to its average volume of 113,852. Sequans Communications S.A. has a 52 week low of $4.44 and a 52 week high of $58.30. The stock has a market cap of $71.97 million, a PE ratio of -0.62 and a beta of 0.22. The company’s fifty day moving average price is $5.67 and its two-hundred day moving average price is $4.61. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SQNS. Lake Street Capital began coverage on Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target on the stock. B. Riley lowered their price target on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a report 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.83.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Yorkville Advisors Global LP bought a new stake in Sequans Communications in the third quarter worth $7,218,000. Alyeska Investment Group L.P. purchased a new position in shares of Sequans Communications in the 3rd quarter worth about $2,590,000. Moore Capital Management LP bought a new position in Sequans Communications in the 3rd quarter worth about $581,000. Bank of America Corp DE purchased a new stake in Sequans Communications during the 3rd quarter valued at about $26,000. Finally, Krilogy Financial LLC purchased a new stake in Sequans Communications during the 3rd quarter valued at about $568,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

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.