Sequans Communications (NYSE:SQNS) Stock Price Passes Above 200-Day Moving Average of $0.00

Sequans Communications SA (NYSE:SQNS)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.86. Sequans Communications shares last traded at $0.86, with a volume of 2,498 shares.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Roth Capital increased their price objective on Sequans Communications from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $2.23.

The stock has a 50 day simple moving average of $0.90. The company has a market cap of $68.01 million, a PE ratio of -2.33 and a beta of 2.80.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 5,057.55% and a negative net margin of 120.67%. The company had revenue of $8.10 million for the quarter, compared to analyst estimates of $8.57 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. The business’s revenue was down 36.0% compared to the same quarter last year. On average, equities research analysts predict that Sequans Communications SA will post -0.28 EPS for the current year.

An institutional investor recently raised its position in Sequans Communications stock. AWM Investment Company Inc. lifted its holdings in shares of Sequans Communications SA (NYSE:SQNS) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,370,202 shares of the semiconductor company’s stock after purchasing an additional 155,418 shares during the period. Sequans Communications accounts for about 1.6% of AWM Investment Company Inc.’s portfolio, making the stock its 23rd largest position. AWM Investment Company Inc. owned 11.71% of Sequans Communications worth $8,466,000 as of its most recent SEC filing. Institutional investors own 36.21% of the company’s stock.

Sequans Communications Company Profile (NYSE:SQNS)

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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