Sequans Communications SA (NYSE:SQNS) shot up 15.7% on Wednesday . The stock traded as high as $5.19 and last traded at $5.00, 468,000 shares changed hands during mid-day trading. An increase of 144% from the average session volume of 191,655 shares. The stock had previously closed at $4.32.
Several brokerages have weighed in on SQNS. Canaccord Genuity reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Sequans Communications in a report on Friday, November 29th. Roth Capital reaffirmed a “buy” rating and issued a $12.25 price objective (up from $3.50) on shares of Sequans Communications in a report on Tuesday, December 31st. Zacks Investment Research cut Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Robert W. Baird lifted their price objective on Sequans Communications from $4.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday. Finally, ValuEngine raised Sequans Communications from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.15.
The company has a market cap of $98.86 million, a price-to-earnings ratio of -3.53 and a beta of 2.54. The business has a fifty day moving average price of $4.02 and a 200 day moving average price of $1.93.
Sequans Communications Company Profile (NYSE:SQNS)
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
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