Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Acquires 21,900 Shares

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 21,900 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were purchased at an average price of $4.91 per share, for a total transaction of $107,529.00. Following the acquisition, the insider owned 1,193,403 shares of the company’s stock, valued at approximately $5,859,608.73. The trade was a 1.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Sequans Communications Stock Up 0.8%

NYSE SQNS traded up $0.04 during mid-day trading on Friday, reaching $5.02. The stock had a trading volume of 141,909 shares, compared to its average volume of 113,852. The stock has a market cap of $71.97 million, a PE ratio of -0.62 and a beta of 0.22. Sequans Communications S.A. has a 1 year low of $4.44 and a 1 year high of $58.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.97 and a quick ratio of 0.87. The company has a fifty day moving average price of $5.67 and a 200 day moving average price of $4.61.

Hedge Funds Weigh In On Sequans Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in Sequans Communications in the third quarter worth about $26,000. Meteora Capital LLC bought a new stake in shares of Sequans Communications in the 2nd quarter valued at approximately $74,000. Krilogy Financial LLC bought a new stake in shares of Sequans Communications in the 3rd quarter valued at approximately $568,000. Moore Capital Management LP purchased a new position in shares of Sequans Communications in the 3rd quarter worth approximately $581,000. Finally, Credit Industriel ET Commercial increased its position in shares of Sequans Communications by 48.8% during the 2nd quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock valued at $879,000 after purchasing an additional 196,162 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SQNS. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. B. Riley decreased their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Lake Street Capital initiated coverage on shares of Sequans Communications in a report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company 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.