Sequans Communications (NYSE:SQNS) Upgraded at Zacks Research

Sequans Communications (NYSE:SQNS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. Wall Street Zen downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.33.

Sequans Communications Price Performance

Shares of NYSE:SQNS opened at $3.25 on Tuesday. The firm has a 50 day moving average of $3.59 and a 200-day moving average of $3.65. The stock has a market capitalization of $48.61 million, a PE ratio of -0.24 and a beta of 0.79. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.02. Sequans Communications has a 12 month low of $2.38 and a 12 month high of $58.30.

Hedge Funds Weigh In On Sequans Communications

A number of institutional investors and hedge funds have recently bought and sold shares of SQNS. Wolverine Asset Management LLC acquired a new position in shares of Sequans Communications in the fourth quarter valued at approximately $1,337,000. Credit Industriel ET Commercial boosted its position in Sequans Communications by 214.3% during the 4th quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock worth $988,000 after buying an additional 150,000 shares during the period. Yorkville Advisors Global LP acquired a new stake in Sequans Communications during the 3rd quarter worth approximately $7,218,000. BRC Group Holdings Inc. increased its position in Sequans Communications by 30.8% in the 4th quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock valued at $4,704,000 after acquiring an additional 246,922 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new position in Sequans Communications in the 4th quarter valued at approximately $474,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

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.