Sequans Communications (NYSE:SQNS) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Sequans Communications S.A. (NYSE:SQNS) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.81 and traded as high as $2.98. Sequans Communications shares last traded at $2.88, with a volume of 313,526 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SQNS. Roth Mkm reiterated a “buy” rating and issued a $7.50 price target on shares of Sequans Communications in a research note on Monday, August 26th. StockNews.com raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

Sequans Communications Stock Up 6.3 %

The company has a market cap of $71.63 million, a PE ratio of -1.80 and a beta of 0.28. The firm has a 50 day simple moving average of $2.52 and a 200-day simple moving average of $1.81.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings results on Friday, August 23rd. The semiconductor company reported ($0.30) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.30). The business had revenue of $9.68 million for the quarter, compared to analyst estimates of $9.70 million. As a group, equities analysts anticipate that Sequans Communications S.A. will post -1.48 EPS for the current year.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.