Insider Buying: Sequans Communications (NYSE:SQNS) Major Shareholder Purchases 11,631 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 11,631 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was acquired at an average price of $5.65 per share, for a total transaction of $65,715.15. Following the completion of the purchase, the insider owned 1,853,418 shares of the company’s stock, valued at approximately $10,471,811.70. This represents a 0.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, January 15th, Daniel Asher acquired 28,200 shares of Sequans Communications stock. The stock was acquired at an average price of $5.65 per share, with a total value of $159,330.00.
• On Wednesday, January 14th, Daniel Asher bought 15,100 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher purchased 57,809 shares of Sequans Communications stock. The shares were bought at an average cost of $5.51 per share, for a total transaction of $318,527.59.
• On Monday, January 12th, Daniel Asher purchased 6,800 shares of Sequans Communications stock. The stock was bought at an average price of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher acquired 27,032 shares of Sequans Communications stock. The stock was bought at an average price 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 shares were bought at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Price Performance

SQNS traded down $0.34 on Tuesday, hitting $5.30. 258,458 shares of the company were exchanged, compared to its average volume of 168,880. The firm has a market capitalization of $76.00 million, a P/E ratio of -0.66 and a beta of 0.22. Sequans Communications S.A. has a fifty-two week low of $4.44 and a fifty-two week high of $58.30. The business’s fifty day moving average is $5.54 and its 200 day moving average is $4.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQNS. NewGen Asset Management Ltd purchased a new stake in Sequans Communications during the second quarter valued at about $4,638,000. Hood River Capital Management LLC acquired a new position in shares of Sequans Communications in the 2nd quarter valued at about $20,746,000. Credit Industriel ET Commercial grew its holdings 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 worth $879,000 after purchasing an additional 196,162 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Sequans Communications during the 3rd quarter worth approximately $2,590,000. Finally, Boothbay Fund Management LLC raised its holdings 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 valued at $2,460,000 after buying an additional 25,000 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Lake Street Capital assumed coverage on Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price on the stock. B. Riley cut their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.33.

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.