Sequans Communications (NYSE:SQNS) Share Price Crosses Above Two Hundred Day Moving Average of $2.38

Sequans Communications S.A. (NYSE:SQNS) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.38 and traded as high as $2.83. Sequans Communications shares last traded at $2.83, with a volume of 290,955 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SQNS shares. StockNews.com initiated coverage on shares of Sequans Communications in a research report on Thursday, August 17th. They issued a “sell” rating for the company. B. Riley downgraded Sequans Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $6.50 to $3.03 in a research note on Monday, August 7th. Finally, Robert W. Baird decreased their target price on Sequans Communications from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Tuesday, August 8th.

Sequans Communications Price Performance

The firm’s 50 day moving average price is $2.58 and its two-hundred day moving average price is $2.38. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.55 and a quick ratio of 0.44. The stock has a market cap of $166.60 million, a PE ratio of -6.76 and a beta of 0.88.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Monday, August 7th. The semiconductor company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Sequans Communications had a negative net margin of 41.11% and a negative return on equity of 458.43%. The business had revenue of $9.16 million during the quarter, compared to analyst estimates of $10.00 million. On average, research analysts expect that Sequans Communications S.A. will post -0.52 earnings per share for the current year.

Institutional Trading of Sequans Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in SQNS. Belvedere Trading LLC bought a new position in Sequans Communications in the 2nd quarter worth about $51,000. UBS Group AG boosted its position in shares of Sequans Communications by 265.0% in the third quarter. UBS Group AG now owns 14,801 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 10,746 shares during the period. Susquehanna International Group LLP grew its stake in Sequans Communications by 28.1% during the fourth quarter. Susquehanna International Group LLP now owns 21,654 shares of the semiconductor company’s stock valued at $72,000 after acquiring an additional 4,751 shares in the last quarter. Equitec Proprietary Markets LLC bought a new stake in Sequans Communications during the 2nd quarter worth approximately $85,000. Finally, Millennium Management LLC purchased a new stake in Sequans Communications in the 4th quarter worth approximately $113,000. 64.71% of the stock is currently owned by institutional investors.

Sequans Communications Company Profile

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.