Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Purchases 28,200 Shares

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 28,200 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were acquired at an average cost of $5.65 per share, for a total transaction of $159,330.00. Following the transaction, the insider owned 1,841,787 shares of the company’s stock, valued at $10,406,096.55. This trade represents a 1.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, January 16th, Daniel Asher acquired 11,631 shares of Sequans Communications stock. The stock was acquired at an average price of $5.65 per share, with a total value of $65,715.15.
• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were bought 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 acquired 6,800 shares of Sequans Communications stock. The shares were bought at an average price of $5.36 per share, for a total transaction 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 cost of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher bought 21,900 shares of Sequans Communications stock. The shares were purchased at an average price of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Stock Performance

NYSE SQNS traded down $0.34 on Tuesday, hitting $5.30. 258,458 shares of the stock were exchanged, compared to its average volume of 168,880. The company has a market capitalization of $76.00 million, a PE ratio of -0.66 and a beta of 0.22. 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 business’s fifty day moving average is $5.54 and its 200 day moving average is $4.86. Sequans Communications S.A. has a 52 week low of $4.44 and a 52 week high of $58.30.

Analyst Ratings Changes

A number of equities analysts recently commented on SQNS shares. B. Riley lowered their price target on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. Finally, Lake Street Capital initiated coverage on shares of Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target for the company. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.33.

Institutional Investors Weigh In On Sequans Communications

Large investors have recently modified their holdings of the business. Hood River Capital Management LLC acquired a new position in shares of Sequans Communications during the 2nd quarter worth $20,746,000. NewGen Equity Long Short Fund acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at approximately $4,638,000. NewGen Asset Management Ltd acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at approximately $4,638,000. Boothbay Fund Management LLC grew its holdings 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 valued at $2,460,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Yorkville Advisors Global LP acquired a new position in Sequans Communications during the 3rd quarter worth approximately $7,218,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

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.