Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Buys 12,300 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher bought 12,300 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were purchased at an average price of $5.12 per share, with a total value of $62,976.00. Following the transaction, the insider directly owned 140,011,100 shares in the company, valued at $716,856,832. This represents a 0.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Wednesday, January 21st, Daniel Asher purchased 22,600 shares of Sequans Communications stock. The stock was purchased at an average price of $5.24 per share, for a total transaction of $118,424.00.
• On Tuesday, January 20th, Daniel Asher acquired 19,660 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.29 per share, for a total transaction of $104,001.40.
• On Friday, January 16th, Daniel Asher acquired 11,631 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.65 per share, with a total value of $65,715.15.
• On Thursday, January 15th, Daniel Asher bought 28,200 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.65 per share, for a total transaction of $159,330.00.
• 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 Tuesday, January 13th, Daniel Asher purchased 57,809 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.51 per share, with a total value of $318,527.59.
• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was acquired at an average price of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher acquired 27,032 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher bought 21,900 shares of Sequans Communications stock. The shares were acquired at an average price of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Stock Performance

Shares of NYSE:SQNS opened at $5.13 on Thursday. Sequans Communications S.A. has a twelve month low of $4.44 and a twelve month high of $58.30. The firm has a market cap of $73.44 million, a PE ratio of -0.63 and a beta of 0.22. 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 business has a fifty day moving average of $5.41 and a 200-day moving average of $9.45.

Hedge Funds Weigh In On Sequans Communications

Large investors have recently bought and sold shares of the business. Hood River Capital Management LLC acquired a new stake in Sequans Communications during the 2nd quarter worth $20,746,000. NewGen Equity Long Short Fund acquired a new position in shares of Sequans Communications in the 2nd quarter valued at $4,638,000. NewGen Asset Management Ltd bought a new position in shares of Sequans Communications in the 2nd quarter worth $4,638,000. Yorkville Advisors Global LP bought a new position in shares of Sequans Communications in the 3rd quarter worth $7,218,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Sequans Communications during the third quarter worth $2,590,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SQNS has been the topic of several research analyst reports. Lake Street Capital began coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Finally, B. Riley decreased their price objective 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

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.