Daniel Asher Acquires 6,800 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 6,800 shares of the business’s stock in a transaction on Monday, January 12th. The stock was acquired at an average price of $5.36 per share, with a total value of $36,448.00. Following the acquisition, the insider owned 1,227,235 shares in the company, valued at $6,577,979.60. The trade was a 0.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, January 9th, Daniel Asher bought 27,032 shares of Sequans Communications stock. The shares were bought at an average price of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The stock was bought at an average price of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Price Performance

Shares of NYSE:SQNS traded up $0.16 during midday trading on Tuesday, hitting $5.50. The company had a trading volume of 212,381 shares, compared to its average volume of 132,410. Sequans Communications S.A. has a twelve month low of $4.44 and a twelve month high of $58.30. The stock has a market cap of $78.74 million, a price-to-earnings ratio of -0.68 and a beta of 0.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.97 and a quick ratio of 0.87. The business’s 50-day simple moving average is $5.59 and its 200-day simple moving average is $4.71.

Hedge Funds Weigh In On Sequans Communications

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new position in shares of Sequans Communications during the 3rd quarter worth approximately $26,000. Meteora Capital LLC acquired a new position in Sequans Communications during the second quarter worth $74,000. Krilogy Financial LLC purchased a new position in shares of Sequans Communications during the third quarter worth $568,000. Moore Capital Management LP acquired a new stake in shares of Sequans Communications in the third quarter valued at $581,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Sequans Communications in the 3rd quarter valued at $2,590,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SQNS shares. Lake Street Capital began coverage on shares of 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 decreased their target price on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Weiss Ratings reissued 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sequans Communications has an average rating of “Moderate Buy” and an average target price of $10.83.

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.