Zacks Research Upgrades Sequans Communications (NYSE:SQNS) to “Hold”

Sequans Communications (NYSE:SQNS) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on SQNS. 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.33.

Sequans Communications Trading Down 1.4%

Shares of Sequans Communications stock opened at $3.25 on Tuesday. Sequans Communications has a 1 year low of $2.38 and a 1 year high of $58.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42. The firm has a market cap of $48.61 million, a PE ratio of -0.24 and a beta of 0.79. The company has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $3.65.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in shares of Sequans Communications in the 3rd quarter worth about $26,000. SmartHarvest Portfolios LLC purchased a new position in shares of Sequans Communications during the first quarter valued at about $60,000. XTX Topco Ltd bought a new position in Sequans Communications in the fourth quarter worth about $73,000. Virtu Financial LLC bought a new position in Sequans Communications in the fourth quarter worth about $75,000. Finally, J. Derek Lewis & Associates Inc. purchased a new stake in Sequans Communications in the fourth quarter worth about $85,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

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.