Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Purchases 19,660 Shares

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher bought 19,660 shares of Sequans Communications stock in a transaction that occurred on Tuesday, January 20th. The shares were acquired at an average price of $5.29 per share, with a total value of $104,001.40. Following the acquisition, the insider directly owned 1,873,078 shares of the company’s stock, valued at $9,908,582.62. The trade was a 1.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, January 21st, Daniel Asher bought 22,600 shares of Sequans Communications stock. The stock was purchased at an average cost of $5.24 per share, with a total value of $118,424.00.
• On Friday, January 16th, Daniel Asher acquired 11,631 shares of Sequans Communications stock. The stock was purchased at an average cost of $5.65 per share, with a total value of $65,715.15.
• On Thursday, January 15th, Daniel Asher purchased 28,200 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.65 per share, for a total transaction of $159,330.00.
• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were 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 stock was acquired at an average price of $5.51 per share, for a total transaction of $318,527.59.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher purchased 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 purchased 21,900 shares of Sequans Communications stock. The shares were purchased at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Trading Down 0.9%

NYSE SQNS traded down $0.05 during trading hours on Thursday, reaching $5.31. The company’s stock had a trading volume of 103,765 shares, compared to its average volume of 167,101. Sequans Communications S.A. has a 52 week low of $4.44 and a 52 week high of $58.30. 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 stock has a market cap of $76.09 million, a P/E ratio of -0.66 and a beta of 0.22. The firm has a fifty day simple moving average of $5.50 and a 200-day simple moving average of $10.24.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SQNS shares. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. B. Riley reduced their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Lake Street Capital initiated coverage on Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Institutional Trading of Sequans Communications

Several hedge funds have recently modified their holdings of the stock. Yorkville Advisors Global LP bought a new stake in Sequans Communications in the 3rd quarter valued at about $7,218,000. Alyeska Investment Group L.P. bought a new position in shares of Sequans Communications during the third quarter valued at about $2,590,000. Moore Capital Management LP purchased a new position in Sequans Communications during the third quarter worth about $581,000. Bank of America Corp DE bought a new position in shares of Sequans Communications during the 3rd quarter worth approximately $26,000. Finally, Krilogy Financial LLC bought a new position in shares of Sequans Communications in the third quarter valued at approximately $568,000. Institutional investors own 63.33% of the company’s stock.

About Sequans Communications

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.