Short Interest in Sequans Communications S.A. (NYSE:SQNS) Increases By 67.6%
by Michael Walen · The Markets DailySequans Communications S.A. (NYSE:SQNS – Get Free Report) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 141,925 shares, a growth of 67.6% from the June 30th total of 84,666 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 46,965 shares, the short-interest ratio is presently 3.0 days.
Sequans Communications Stock Performance
SQNS traded down $0.01 on Friday, hitting $2.46. The company’s stock had a trading volume of 43,065 shares, compared to its average volume of 172,603. Sequans Communications has a 12 month low of $2.38 and a 12 month high of $14.20. The firm has a market cap of $36.93 million, a P/E ratio of -0.18 and a beta of 0.79. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $3.29 and its 200-day simple moving average is $3.42.
Analyst Ratings Changes
A number of analysts have issued reports on SQNS shares. Wall Street Zen downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Zacks Research raised Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.33.
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Institutional Trading of Sequans Communications
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DRW Securities LLC purchased a new stake in Sequans Communications during the 4th quarter worth about $4,646,000. Wolverine Asset Management LLC purchased a new position in Sequans Communications during the 4th quarter valued at about $1,337,000. Alyeska Investment Group L.P. purchased a new position in Sequans Communications during the 3rd quarter valued at about $2,590,000. BRC Group Holdings Inc. increased its position in shares of Sequans Communications by 30.8% during the fourth quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock valued at $4,704,000 after buying an additional 246,922 shares during the period. Finally, Credit Industriel ET Commercial lifted its holdings in shares of Sequans Communications by 81.8% in the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock worth $1,012,000 after buying an additional 180,000 shares in the last quarter. 63.33% of the stock is currently owned by institutional investors.
Sequans Communications Company Profile
Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.
The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.