Sequans Communications S.A. (NYSE:SQNS) Short Interest Up 83.0% in June

Sequans Communications S.A. (NYSE:SQNS) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 94,388 shares, an increase of 83.0% from the May 31st total of 51,566 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 171,351 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Sequans Communications

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in shares of Sequans Communications during the third quarter worth about $26,000. SmartHarvest Portfolios LLC purchased a new stake in Sequans Communications during the 1st quarter valued at $60,000. XTX Topco Ltd purchased a new stake in shares of Sequans Communications in the fourth quarter valued at $73,000. Virtu Financial LLC bought a new stake in Sequans Communications in the fourth quarter worth about $75,000. Finally, J. Derek Lewis & Associates Inc. purchased a new position in Sequans Communications during the 4th quarter valued at $85,000. Institutional investors own 63.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. Finally, Zacks Research cut Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sequans Communications has a consensus rating of “Hold” and a consensus target price of $20.33.

Sequans Communications Price Performance

Shares of NYSE SQNS opened at $3.21 on Friday. The company has a 50 day simple moving average of $3.57 and a two-hundred day simple moving average of $3.71. The company has a market capitalization of $48.16 million, a price-to-earnings ratio of -0.24 and a beta of 0.79. Sequans Communications has a fifty-two week low of $2.38 and a fifty-two week high of $58.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.42 and a current ratio of 0.47.

About Sequans Communications

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.