Sequans Communications (NYSE:SQNS) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Sequans Communications S.A. (NYSE:SQNS)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.12 and traded as high as $7.30. Sequans Communications shares last traded at $7.04, with a volume of 189,249 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a report on Monday, August 11th. Wall Street Zen cut shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. B. Riley initiated coverage on shares of Sequans Communications in a report on Thursday, October 16th. They issued a “buy” rating and a $13.00 target price on the stock. Northland Securities assumed coverage on shares of Sequans Communications in a report on Monday, August 11th. They set an “outperform” rating and a $3.50 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sequans Communications in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sequans Communications currently has a consensus rating of “Buy” and an average price target of $8.25.

Sequans Communications Stock Performance

The company has a market capitalization of $100.88 million, a PE ratio of 0.38 and a beta of 0.46. The firm’s 50-day simple moving average is $5.41 and its 200 day simple moving average is $3.12.

Institutional Investors Weigh In On Sequans Communications

Several institutional investors have recently made changes to their positions in the stock. Hood River Capital Management LLC purchased a new stake in shares of Sequans Communications during the 2nd quarter worth $20,746,000. NewGen Equity Long Short Fund purchased a new stake in shares of Sequans Communications during the 2nd quarter worth $4,638,000. NewGen Asset Management Ltd purchased a new stake in shares of Sequans Communications during the 2nd quarter worth $4,638,000. Boothbay Fund Management LLC boosted its position in shares of Sequans Communications by 1.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after purchasing an additional 25,000 shares in the last quarter. Finally, AMH Equity Ltd boosted its position in shares of Sequans Communications by 14.8% during the 1st quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company’s stock worth $1,680,000 after purchasing an additional 103,058 shares in the last quarter. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.