Sequans Communications (NYSE:SQNS) Major Shareholder Acquires $36,448.00 in Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 6,800 shares of the business’s stock in a transaction on Monday, January 12th. The shares were acquired at an average price of $5.36 per share, for a total transaction of $36,448.00. Following the completion of the purchase, the insider directly owned 1,227,235 shares of the company’s stock, valued at approximately $6,577,979.60. This trade represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Daniel Asher also recently made the following trade(s):

• 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, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The stock was acquired at an average price of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Stock Up 2.9%

Sequans Communications stock traded up $0.16 during mid-day trading on Tuesday, reaching $5.50. 212,381 shares of the company’s stock were exchanged, compared to its average volume of 132,410. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a twelve month low of $4.44 and a twelve month high of $58.30. The company has a market cap of $78.74 million, a P/E ratio of -0.68 and a beta of 0.22. The company has a fifty day moving average of $5.59 and a 200-day moving average of $4.71.

Institutional Trading of Sequans Communications

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Lake Street Capital initiated coverage on Sequans Communications in a report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. Finally, B. Riley cut their target price on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company 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.