Sequans Communications (SQNS) Stock Price Up -0.9%

Shares of Sequans Communications SA (NYSE:SQNS) rose 0.9% during trading on Thursday . The company traded as high as $2.24 and last traded at $2.18. Approximately 20,976 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 302,689 shares. The stock had previously closed at $2.20.

SQNS has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Saturday, February 17th. ValuEngine downgraded shares of Sequans Communications from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $3.00 price target on shares of Sequans Communications in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $3.75.

The firm has a market capitalization of $160.05 million, a PE ratio of -7.00 and a beta of 2.44. The company has a current ratio of 2.02, a quick ratio of 1.71 and a debt-to-equity ratio of 1.08.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings results on Wednesday, May 2nd. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). The business had revenue of $11.23 million during the quarter, compared to the consensus estimate of $11.23 million. Sequans Communications had a negative net margin of 62.26% and a negative return on equity of 243.68%. The business’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) EPS. research analysts forecast that Sequans Communications SA will post -0.25 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gradient Investments LLC boosted its position in shares of Sequans Communications by 47.2% during the 4th quarter. Gradient Investments LLC now owns 165,825 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 53,184 shares during the period. Citadel Advisors LLC purchased a new position in shares of Sequans Communications during the 4th quarter worth approximately $198,000. Numen Capital LLP boosted its position in shares of Sequans Communications by 114.0% during the 1st quarter. Numen Capital LLP now owns 428,000 shares of the semiconductor company’s stock worth $718,000 after purchasing an additional 228,000 shares during the period. Finally, Nokomis Capital L.L.C. boosted its position in shares of Sequans Communications by 67.9% during the 1st quarter. Nokomis Capital L.L.C. now owns 7,628,513 shares of the semiconductor company’s stock worth $12,816,000 after purchasing an additional 3,084,000 shares during the period. Institutional investors and hedge funds own 34.95% of the company’s stock.

Sequans Communications Company Profile

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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