Sequans Communications (NYSE:SQNS) Stock Rating Upgraded by Wall Street Zen

Sequans Communications (NYSE:SQNS) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities analysts also recently issued reports on SQNS. Zacks Research downgraded Sequans Communications from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. B. Riley Financial decreased their price objective on Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.33.

Sequans Communications Price Performance

Shares of Sequans Communications stock opened at $3.46 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.02. The company has a market cap of $49.64 million, a PE ratio of -0.26 and a beta of 0.66. The business has a 50 day moving average of $2.93 and a 200 day moving average of $4.50. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $58.30.

Institutional Investors Weigh In On Sequans Communications

Institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC purchased a new stake in shares of Sequans Communications in the fourth quarter worth $1,337,000. Yorkville Advisors Global LP purchased a new stake in shares of Sequans Communications in the third quarter worth $7,218,000. Credit Industriel ET Commercial grew its stake in shares of Sequans Communications by 214.3% in the fourth quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock worth $988,000 after acquiring an additional 150,000 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of Sequans Communications in the third quarter worth $568,000. Finally, DRW Securities LLC purchased a new stake in shares of Sequans Communications in the fourth quarter worth $4,646,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

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.