Sequans Communications S.A. (NYSE:SQNS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Sequans Communications S.A. (NYSE:SQNS) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $20.3333.

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. B. Riley Financial decreased their target price on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Zacks Research cut shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th.

Sequans Communications Stock Performance

SQNS opened at $3.14 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42. The firm has a fifty day moving average price of $3.37 and a 200 day moving average price of $4.03. Sequans Communications has a 1 year low of $2.38 and a 1 year high of $58.30. The stock has a market cap of $47.10 million, a P/E ratio of -0.23 and a beta of 0.78.

Hedge Funds Weigh In On Sequans Communications

A number of large investors have recently added to or reduced their stakes in SQNS. Boothbay Fund Management LLC raised its position in Sequans Communications by 1.5% during the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after acquiring an additional 25,000 shares during the period. Krilogy Financial LLC acquired a new position in Sequans Communications during the third quarter worth $568,000. Bank of America Corp DE acquired a new position in Sequans Communications during the third quarter worth $26,000. Moore Capital Management LP acquired a new position in Sequans Communications during the third quarter worth $581,000. Finally, Alyeska Investment Group L.P. acquired a new position in Sequans Communications during the third quarter worth $2,590,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.