Sequans Communications (NYSE:SQNS) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Sequans Communications (NYSE:SQNS) in a research report issued on Thursday. The firm set a “sell” rating on the semiconductor company’s stock.

Sequans Communications Stock Performance

Shares of Sequans Communications stock opened at $0.53 on Thursday. The business has a 50-day simple moving average of $0.56 and a 200-day simple moving average of $1.34. Sequans Communications has a one year low of $0.34 and a one year high of $2.97. The company has a market cap of $33.09 million, a PE ratio of -0.68 and a beta of 0.16.

Hedge Funds Weigh In On Sequans Communications

Institutional investors and hedge funds have recently modified their holdings of the company. Black Maple Capital Management LP purchased a new position in Sequans Communications in the fourth quarter valued at approximately $43,000. FNY Investment Advisers LLC grew its position in shares of Sequans Communications by 953.1% in the 4th quarter. FNY Investment Advisers LLC now owns 315,916 shares of the semiconductor company’s stock valued at $894,000 after buying an additional 285,916 shares during the last quarter. Vazirani Asset Management LLC acquired a new stake in Sequans Communications during the 4th quarter worth $1,840,000. Finally, Bardin Hill Management Partners LP purchased a new stake in Sequans Communications in the fourth quarter valued at $2,497,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

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.