B. Riley Has Lowered Expectations for Sequans Communications (NYSE:SQNS) Stock Price

Sequans Communications (NYSE:SQNS) had its price target lowered by analysts at B. Riley from $13.00 to $11.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price indicates a potential upside of 100.00% from the company’s previous close.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Northland Securities assumed coverage on shares of Sequans Communications in a report on Monday, August 11th. They issued an “outperform” rating and a $3.50 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a report on Monday. Finally, Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Sequans Communications Trading Down 2.1%

Shares of Sequans Communications stock traded down $0.12 during trading hours on Thursday, reaching $5.50. The stock had a trading volume of 249,464 shares, compared to its average volume of 289,275. The stock’s 50 day moving average is $7.46 and its 200 day moving average is $3.72. Sequans Communications has a twelve month low of $5.43 and a twelve month high of $58.30. The firm has a market capitalization of $78.83 million, a PE ratio of 0.30 and a beta of 0.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SQNS. Bank of America Corp DE acquired a new stake in shares of Sequans Communications in the third quarter valued at approximately $26,000. XTX Topco Ltd acquired a new stake in shares of Sequans Communications in the 1st quarter worth $70,000. Meteora Capital LLC purchased a new position in shares of Sequans Communications during the 2nd quarter worth $74,000. Krilogy Financial LLC purchased a new position in shares of Sequans Communications during the 3rd quarter worth $568,000. Finally, Moore Capital Management LP acquired a new position in shares of Sequans Communications during the 3rd quarter valued at about $581,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.