Daniel Asher Buys 57,809 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 57,809 shares of Sequans Communications stock in a transaction on Tuesday, January 13th. The stock was purchased at an average price of $5.51 per share, for a total transaction of $318,527.59. Following the completion of the transaction, the insider owned 1,789,487 shares of the company’s stock, valued at approximately $9,860,073.37. This represents a 3.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Daniel Asher also recently made the following trade(s):

• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were acquired at an average price of $5.69 per share, for a total transaction of $85,919.00.
• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher acquired 27,032 shares of Sequans Communications stock. The stock was bought at an average price of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The shares were purchased at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Trading Down 3.4%

SQNS traded down $0.20 during trading on Thursday, reaching $5.59. 258,172 shares of the company’s stock were exchanged, compared to its average volume of 157,781. The company’s fifty day moving average price is $5.58 and its 200-day moving average price is $4.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97. The firm has a market capitalization of $80.03 million, a PE ratio of -0.69 and a beta of 0.22. Sequans Communications S.A. has a fifty-two week low of $4.44 and a fifty-two week high of $58.30.

Institutional Investors Weigh In On Sequans Communications

A number of large investors have recently added to or reduced their stakes in the company. Credit Industriel ET Commercial increased its position in shares of Sequans Communications by 48.8% during the 2nd quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock valued at $879,000 after purchasing an additional 196,162 shares during the last quarter. NewGen Equity Long Short Fund purchased a new stake in Sequans Communications in the second quarter worth approximately $4,638,000. Hood River Capital Management LLC bought a new position in Sequans Communications during the second quarter valued at approximately $20,746,000. Meteora Capital LLC purchased a new position in shares of Sequans Communications during the second quarter worth approximately $74,000. Finally, Boothbay Fund Management LLC lifted its holdings 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 acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. B. Riley lowered their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Finally, Lake Street Capital assumed coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sequans Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Sequans Communications Company Profile

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.