Sequans Communications Stock to Reverse Split on Wednesday, September 17th (NYSE:SQNS)

Sequans Communications S.A. (NYSE:SQNS) shares are going to reverse split on Wednesday, September 17th. The 1-10 reverse split was announced on Thursday, September 4th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, September 16th.

Sequans Communications Trading Up 1.4%

SQNS opened at $0.99 on Friday. The company has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $1.84. The firm has a market cap of $25.32 million, a price-to-earnings ratio of 0.54 and a beta of 0.44. Sequans Communications has a twelve month low of $0.73 and a twelve month high of $5.83.

Analyst Ratings Changes

SQNS has been the subject of a number of recent analyst reports. Northland Securities initiated coverage on shares of Sequans Communications in a report on Monday, August 11th. They set an “outperform” rating and a $3.50 price target for the company. Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Buy” and an average price target of $3.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Boothbay Fund Management LLC lifted its position in shares of Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after buying an additional 25,000 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Sequans Communications in the 1st quarter worth about $70,000. FNY Investment Advisers LLC lifted its position in shares of Sequans Communications by 54.1% in the 1st quarter. FNY Investment Advisers LLC now owns 134,830 shares of the semiconductor company’s stock worth $283,000 after buying an additional 47,307 shares during the last quarter. Meteora Capital LLC bought a new position in shares of Sequans Communications in the 2nd quarter worth about $74,000. Finally, Two Sigma Investments LP bought a new position in shares of Sequans Communications in the 4th quarter worth about $205,000. 63.33% of the stock is currently owned by institutional investors.

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.