Sequans Communications (NYSE:SQNS) Shares Cross Above 200 Day Moving Average – What’s Next?

Sequans Communications S.A. (NYSE:SQNS) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.32 and traded as high as $3.53. Sequans Communications shares last traded at $3.41, with a volume of 144,942 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Sequans Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

Sequans Communications Stock Performance

The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $85.23 million, a PE ratio of 2.42 and a beta of 0.33. The business has a 50 day simple moving average of $3.00 and a 200 day simple moving average of $2.32.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sequans Communications stock. Oddo BHF Asset Management Sas bought a new stake in Sequans Communications S.A. (NYSE:SQNS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,900,000 shares of the semiconductor company’s stock, valued at approximately $3,451,000. Oddo BHF Asset Management Sas owned about 11.60% of Sequans Communications as of its most recent SEC filing. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.