Sequans Communications (NYSE:SQNS) Major Shareholder Acquires $62,976.00 in Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher bought 12,300 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were bought at an average cost of $5.12 per share, with a total value of $62,976.00. Following the transaction, the insider directly owned 140,011,100 shares of the company’s stock, valued at approximately $716,856,832. This trade represents a 0.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% 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 acquired 22,600 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.24 per share, with a total value of $118,424.00.
• On Tuesday, January 20th, Daniel Asher bought 19,660 shares of Sequans Communications stock. The stock was purchased at an average price of $5.29 per share, for a total transaction of $104,001.40.
• On Friday, January 16th, Daniel Asher bought 11,631 shares of Sequans Communications stock. The stock was purchased at an average price of $5.65 per share, for a total transaction of $65,715.15.
• On Thursday, January 15th, Daniel Asher bought 28,200 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.65 per share, with a total value of $159,330.00.
• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were purchased at an average price of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher acquired 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 acquired 6,800 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher bought 27,032 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The stock was acquired at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Stock Down 2.5%

SQNS opened at $4.54 on Friday. The business has a 50 day moving average of $5.38 and a 200-day moving average of $9.07. The stock has a market capitalization of $64.99 million, a price-to-earnings ratio of -0.56 and a beta of 0.22. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a 1-year low of $4.41 and a 1-year high of $58.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SQNS shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. Lake Street Capital initiated coverage on Sequans Communications in a report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, B. Riley lowered their price objective 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sequans Communications presently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Institutional Trading of Sequans Communications

Institutional investors have recently bought and sold shares of the stock. Hood River Capital Management LLC acquired a new position in Sequans Communications during the second quarter worth $20,746,000. NewGen Equity Long Short Fund bought a new stake in shares of Sequans Communications in the 2nd quarter worth about $4,638,000. NewGen Asset Management Ltd acquired a new stake in shares of Sequans Communications during the 2nd quarter worth about $4,638,000. Boothbay Fund Management LLC boosted its position 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 in the last quarter. Finally, Yorkville Advisors Global LP bought a new stake in Sequans Communications during the third quarter worth about $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.