Sequans Communications (NYSE:SQNS) Shares Cross Above 200-Day Moving Average of $0.60

Shares of Sequans Communications S.A. (NYSE:SQNS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.60 and traded as high as $1.03. Sequans Communications shares last traded at $0.99, with a volume of 147,792 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SQNS. Roth Mkm reaffirmed a “buy” rating and issued a $3.00 target price on shares of Sequans Communications in a report on Monday, August 26th. StockNews.com started coverage on Sequans Communications in a report on Saturday. They issued a “sell” rating on the stock.

Sequans Communications Trading Down 2.2 %

The company has a 50-day moving average price of $0.68 and a two-hundred day moving average price of $0.60. The stock has a market capitalization of $61.48 million, a P/E ratio of -1.26 and a beta of 0.24.

Sequans Communications (NYSE:SQNS) last issued its earnings results on Tuesday, June 18th. The semiconductor company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Sequans Communications had a negative return on equity of 1,229.91% and a negative net margin of 140.08%. The business had revenue of $6.03 million during the quarter, compared to analyst estimates of $7.20 million. Research analysts forecast that Sequans Communications S.A. will post -0.59 earnings per share for the current year.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bardin Hill Management Partners LP purchased a new position in Sequans Communications in the fourth quarter valued at approximately $2,497,000. Vazirani Asset Management LLC purchased a new position in Sequans Communications in the fourth quarter valued at approximately $1,840,000. Finally, Black Maple Capital Management LP purchased a new position in Sequans Communications in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors 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.