Short Interest in Sequans Communications S.A. (NYSE:SQNS) Increases By 32.8%

Sequans Communications S.A. (NYSE:SQNS) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 531,882 shares, a growth of 32.8% from the January 15th total of 400,598 shares. Based on an average daily volume of 247,224 shares, the days-to-cover ratio is currently 2.2 days. Approximately 4.1% of the company’s stock are short sold. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 247,224 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling

In other news, major shareholder Daniel Asher bought 12,300 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was acquired at an average cost of $5.12 per share, with a total value of $62,976.00. Following the completion of the acquisition, the insider owned 140,011,100 shares of the company’s stock, valued at approximately $716,856,832. This represents a 0.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 223,032 shares of company stock worth $1,194,030. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Sequans Communications

A number of large investors have recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new stake in shares of Sequans Communications during the 2nd quarter valued at about $20,746,000. NewGen Asset Management Ltd bought a new stake in Sequans Communications during the second quarter valued at approximately $4,638,000. NewGen Equity Long Short Fund purchased a new stake in Sequans Communications during the second quarter valued at approximately $4,638,000. Boothbay Fund Management LLC raised its position in Sequans Communications by 1.5% in the second 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 period. Finally, BRC Group Holdings Inc. raised its position in Sequans Communications by 30.8% in the fourth quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after acquiring an additional 246,922 shares during the period. 63.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SQNS has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. B. Riley Financial reduced their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. B. Riley Securities lowered their price target on Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Lake Street Capital began coverage on Sequans Communications in a report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Sequans Communications Stock Performance

Shares of NYSE SQNS traded up $0.18 during midday trading on Friday, hitting $3.22. 108,534 shares of the stock traded hands, compared to its average volume of 259,352. The firm has a market capitalization of $46.14 million, a P/E ratio of -0.26 and a beta of 0.29. Sequans Communications has a one year low of $3.01 and a one year high of $58.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.87 and a current ratio of 0.89. The firm has a 50-day moving average of $4.90 and a two-hundred day moving average of $7.39.

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.