Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Purchases 15,100 Shares

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher bought 15,100 shares of the stock in a transaction dated Wednesday, January 14th. The shares were acquired at an average price of $5.69 per share, for a total transaction of $85,919.00. Following the completion of the purchase, the insider directly owned 1,813,587 shares in the company, valued at approximately $10,319,310.03. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, January 13th, Daniel Asher acquired 57,809 shares of Sequans Communications stock. The shares were bought at an average price of $5.51 per share, with a total value of $318,527.59.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The stock was bought at an average price of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher bought 27,032 shares of Sequans Communications stock. The shares were bought at an average cost 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 bought at an average price of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Stock Performance

Sequans Communications stock traded down $0.20 during trading on Thursday, hitting $5.59. The stock had a trading volume of 258,172 shares, compared to its average volume of 157,781. The stock has a market cap of $80.03 million, a price-to-earnings ratio of -0.69 and a beta of 0.22. The stock’s 50 day moving average is $5.58 and its two-hundred day moving average is $4.74. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a 1 year low of $4.44 and a 1 year high of $58.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC bought a new position in shares of Sequans Communications during the 2nd quarter valued at about $20,746,000. NewGen Equity Long Short Fund bought a new stake in shares of Sequans Communications in the second quarter worth about $4,638,000. NewGen Asset Management Ltd purchased a new position in Sequans Communications during the 2nd quarter valued at about $4,638,000. Yorkville Advisors Global LP purchased a new position in Sequans Communications during the 3rd quarter valued at about $7,218,000. Finally, Alyeska Investment Group L.P. bought a new position in Sequans Communications during the 3rd quarter valued at approximately $2,590,000. Institutional investors own 63.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SQNS shares. Lake Street Capital began coverage on shares of Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 target price for the company. B. Riley dropped their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.