Sequans Communications (NYSE:SQNS) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Sequans Communications (NYSE:SQNS) from a strong sell rating to a sell rating in a report published on Saturday.

Several other equities research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research report on Friday, March 27th. B. Riley Financial lowered their price target on Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Zacks Research cut shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Sequans Communications presently has an average rating of “Hold” and a consensus target price of $20.33.

Sequans Communications Trading Up 3.7%

Shares of NYSE:SQNS opened at $3.46 on Friday. The company has a market cap of $49.65 million, a P/E ratio of -0.26 and a beta of 0.66. The stock’s 50-day moving average is $2.93 and its 200-day moving average is $4.50. Sequans Communications has a 52-week low of $2.38 and a 52-week high of $58.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.79 and a current ratio of 0.47.

Institutional Investors Weigh In On Sequans Communications

Several hedge funds have recently made changes to their positions in the stock. Credit Industriel ET Commercial lifted its stake in shares of Sequans Communications by 81.8% in the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after buying an additional 180,000 shares during the period. SmartHarvest Portfolios LLC bought a new stake in shares of Sequans Communications in the first quarter valued at about $60,000. J. Derek Lewis & Associates Inc. bought a new stake in shares of Sequans Communications in the fourth quarter valued at about $85,000. Virtu Financial LLC bought a new stake in shares of Sequans Communications in the fourth quarter valued at about $75,000. Finally, XTX Topco Ltd bought a new stake in shares of Sequans Communications in the fourth quarter valued at about $73,000. 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.