Sequans Communications (NYSE:SQNS) Shares Set to Reverse Split on Wednesday, September 17th

Sequans Communications S.A. (NYSE:SQNS)’s stock is going to reverse split on Wednesday, September 17th. The 1-10 reverse split was announced on Thursday, September 4th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, September 16th.

Sequans Communications Price Performance

Shares of NYSE SQNS opened at $0.86 on Tuesday. The stock has a market capitalization of $21.82 million, a PE ratio of 0.46 and a beta of 0.44. The business has a fifty day moving average price of $1.70 and a two-hundred day moving average price of $1.87. Sequans Communications has a fifty-two week low of $0.73 and a fifty-two week high of $5.83.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen cut Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Northland Capmk raised Sequans Communications to a “strong-buy” rating in a report on Monday, August 11th. Finally, Northland Securities assumed coverage on Sequans Communications in a report on Monday, August 11th. They issued an “outperform” rating and a $3.50 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $3.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in Sequans Communications during the first quarter worth about $70,000. Meteora Capital LLC acquired a new position in shares of Sequans Communications during the second quarter worth $74,000. Two Sigma Investments LP acquired a new position in shares of Sequans Communications during the fourth quarter worth $205,000. FNY Investment Advisers LLC increased its holdings in shares of Sequans Communications by 54.1% during the first quarter. FNY Investment Advisers LLC now owns 134,830 shares of the semiconductor company’s stock worth $283,000 after buying an additional 47,307 shares in the last quarter. Finally, Groupe la Francaise acquired a new position in shares of Sequans Communications during the first quarter worth $988,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Sequans Communications Company Profile

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.