Sequans Communications S.A. (NYSE:SQNS) Short Interest Down 30.3% in October

Sequans Communications S.A. (NYSE:SQNS) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 345,400 shares, a decrease of 30.3% from the September 30th total of 495,900 shares. Based on an average daily trading volume, of 458,700 shares, the days-to-cover ratio is presently 0.8 days. Currently, 13.6% of the company’s shares are sold short. Currently, 13.6% of the company’s shares are sold short. Based on an average daily trading volume, of 458,700 shares, the days-to-cover ratio is presently 0.8 days.

Sequans Communications Stock Down 17.1%

Shares of NYSE:SQNS traded down $1.22 during midday trading on Tuesday, reaching $5.89. The company’s stock had a trading volume of 1,023,626 shares, compared to its average volume of 285,368. The firm has a 50 day moving average of $6.19 and a 200-day moving average of $3.38. The firm has a market capitalization of $84.34 million, a P/E ratio of 0.32 and a beta of 0.46. Sequans Communications has a 12-month low of $5.86 and a 12-month high of $58.30.

Sequans Communications (NYSE:SQNS) last released its earnings results on Tuesday, November 4th. The semiconductor company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.96. Sequans Communications had a net margin of 142.92% and a return on equity of 119.94%. On average, research analysts predict that Sequans Communications will post -1.05 EPS for the current year.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds have recently bought and sold shares of the company. NewGen Asset Management Ltd bought a new position in Sequans Communications in the 2nd quarter worth about $4,638,000. Boothbay Fund Management LLC lifted its stake in 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 acquiring an additional 25,000 shares during the period. Meteora Capital LLC bought a new position in Sequans Communications during the 2nd quarter valued at about $74,000. Hood River Capital Management LLC bought a new position in Sequans Communications during the 2nd quarter valued at about $20,746,000. Finally, NewGen Equity Long Short Fund bought a new position in Sequans Communications during the 2nd quarter valued at about $4,638,000. Institutional investors own 63.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SQNS shares. Northland Securities started coverage on shares of Sequans Communications in a report on Monday, August 11th. They set an “outperform” rating and a $3.50 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Sequans Communications in a research report on Wednesday, October 8th. Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a research report on Monday, August 11th. B. Riley began coverage on shares of Sequans Communications in a research report on Thursday, October 16th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sequans Communications has an average rating of “Buy” and an average target price of $8.25.

Sequans Communications Company Profile

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.