Sequans Communications (NYSE:SQNS) Stock Breaks Above 50 Day Moving Average – What’s Next?

Sequans Communications S.A. (NYSE:SQNS)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.75 and traded as high as $3.00. Sequans Communications shares last traded at $2.8450, with a volume of 219,664 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings cut shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Roth Capital lowered their price target on Sequans Communications to $15.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Zacks Research raised shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. B. Riley Financial dropped their target price on shares of Sequans Communications from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 24th. Finally, Wall Street Zen upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sequans Communications currently has an average rating of “Hold” and a consensus target price of $12.67.

Sequans Communications Stock Performance

The business’s fifty day moving average price is $2.75 and its 200-day moving average price is $3.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39. The stock has a market cap of $42.62 million, a PE ratio of -0.27 and a beta of 0.84.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Tuesday, November 3rd. The semiconductor company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.44. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. The firm had revenue of $9.09 million during the quarter, compared to analysts’ expectations of $9.04 million. As a group, equities research analysts forecast that Sequans Communications S.A. will post -2.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Sequans Communications

An institutional investor recently raised its position in Sequans Communications stock. Credit Industriel ET Commercial grew its position in shares of Sequans Communications S.A. (NYSE:SQNS) by 81.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the semiconductor company’s stock after buying an additional 180,000 shares during the quarter. Credit Industriel ET Commercial owned 2.79% of Sequans Communications worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Company Profile

Sequans Communications SA is a fabless semiconductor company that develops cellular connectivity solutions for the Internet of Things (IoT). Its technology is designed to connect devices and equipment to 4G and 5G networks, supporting applications such as asset tracking, smart metering, industrial monitoring, security systems, and connected consumer products.

The company offers chipsets, modules, and related software for several cellular IoT applications. Its product portfolio has included solutions for LTE-M and NB-IoT, which are intended for low-power, wide-area connectivity, as well as products supporting broader 4G and 5G applications.