Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 823,600 shares, a decrease of 16.2% from the August 31st total of 983,100 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,600,000 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

SQNS has been the subject of a number of analyst reports. StockNews.com began coverage on Sequans Communications in a research note on Sunday, September 22nd. They issued a “sell” rating for the company. Roth Mkm reaffirmed a “buy” rating and set a $3.00 price target on shares of Sequans Communications in a report on Monday, August 26th.

Hedge Funds Weigh In On Sequans Communications

Several large investors have recently bought and sold shares of the company. Black Maple Capital Management LP bought a new position in shares of Sequans Communications during the fourth quarter valued at $43,000. Vazirani Asset Management LLC bought a new position in Sequans Communications during the 4th quarter worth $1,840,000. Finally, Bardin Hill Management Partners LP acquired a new position in Sequans Communications during the 4th quarter worth about $2,497,000. 63.33% of the stock is currently owned by institutional investors.

Sequans Communications Stock Performance

Shares of SQNS traded up $0.01 during trading hours on Friday, reaching $1.11. The stock had a trading volume of 223,875 shares, compared to its average volume of 789,746. Sequans Communications has a 12 month low of $0.34 and a 12 month high of $2.97. The stock has a market capitalization of $69.01 million, a PE ratio of -1.41 and a beta of 0.24. The company’s 50-day moving average is $0.79 and its two-hundred day moving average is $0.62.

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.