Sequans Communications (NYSE:SQNS) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Sequans Communications S.A. (NYSE:SQNS)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.75 and traded as high as $3.00. Sequans Communications shares last traded at $2.8450, with a volume of 219,664 shares changing hands.

Wall Street Analysts Forecast Growth

SQNS has been the topic of several research reports. Weiss Ratings cut Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Roth Capital reduced their price target on shares of Sequans Communications to $15.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Wall Street Zen raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. B. Riley Financial lowered their price objective on shares of Sequans Communications from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 24th. Finally, Zacks Research raised shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.67.

Sequans Communications Stock Performance

The business’s 50-day moving average price is $2.75 and its 200-day moving average price is $3.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39. The stock has a market cap of $42.62 million, a P/E ratio of -0.27 and a beta of 0.84.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.44. Sequans Communications had a negative return on equity of 54.51% and a negative net margin of 637.49%. The firm had revenue of $9.09 million during the quarter, compared to analyst estimates of $9.04 million. As a group, sell-side analysts expect that Sequans Communications S.A. will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of Sequans Communications

An institutional investor recently raised its stake in Sequans Communications stock. Credit Industriel ET Commercial lifted its stake in Sequans Communications S.A. (NYSE:SQNS) by 81.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400,000 shares of the semiconductor company’s stock after buying an additional 180,000 shares during the quarter. Credit Industriel ET Commercial owned about 2.79% of Sequans Communications worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission. 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Company Profile

Sequans Communications SA is a fabless semiconductor company that develops cellular connectivity solutions for the Internet of Things (IoT). Its technology is designed to connect devices and equipment to 4G and 5G networks, supporting applications such as asset tracking, smart metering, industrial monitoring, security systems, and connected consumer products.

The company offers chipsets, modules, and related software for several cellular IoT applications. Its product portfolio has included solutions for LTE-M and NB-IoT, which are intended for low-power, wide-area connectivity, as well as products supporting broader 4G and 5G applications.