Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Acquires 22,600 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 22,600 shares of Sequans Communications stock in a transaction dated Wednesday, January 21st. The stock was bought at an average cost of $5.24 per share, with a total value of $118,424.00. Following the completion of the purchase, the insider owned 1,895,678 shares in the company, valued at approximately $9,933,352.72. This trade represents a 1.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Daniel Asher also recently made the following trade(s):

• On Tuesday, January 20th, Daniel Asher bought 19,660 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.29 per share, for a total transaction of $104,001.40.
• On Friday, January 16th, Daniel Asher bought 11,631 shares of Sequans Communications stock. The stock was purchased at an average price of $5.65 per share, with a total value of $65,715.15.
• On Thursday, January 15th, Daniel Asher purchased 28,200 shares of Sequans Communications stock. The shares were purchased at an average price of $5.65 per share, for a total transaction of $159,330.00.
• On Wednesday, January 14th, Daniel Asher acquired 15,100 shares of Sequans Communications stock. The stock was purchased at an average cost of $5.69 per share, for a total transaction of $85,919.00.
• On Tuesday, January 13th, Daniel Asher bought 57,809 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.51 per share, with a total value of $318,527.59.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The shares were purchased at an average cost of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher purchased 27,032 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.00 per share, with a total value of $135,160.00.
• On Wednesday, January 7th, Daniel Asher acquired 21,900 shares of Sequans Communications stock. The shares were acquired at an average price of $4.91 per share, with a total value of $107,529.00.

Sequans Communications Stock Down 0.9%

SQNS stock opened at $5.31 on Friday. The firm has a market cap of $76.09 million, a PE ratio of -0.66 and a beta of 0.22. Sequans Communications S.A. has a 12 month low of $4.44 and a 12 month high of $58.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.97 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $10.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SQNS. Bank of America Corp DE acquired a new stake in Sequans Communications during the 3rd quarter worth about $26,000. Meteora Capital LLC acquired a new stake in shares of Sequans Communications during the second quarter worth approximately $74,000. Krilogy Financial LLC purchased a new position in Sequans Communications during the third quarter valued at approximately $568,000. Moore Capital Management LP purchased a new position in Sequans Communications during the third quarter valued at approximately $581,000. Finally, Credit Industriel ET Commercial increased its stake in Sequans Communications by 48.8% in the 2nd quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock valued at $879,000 after buying an additional 196,162 shares during the period. 63.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SQNS. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. Lake Street Capital assumed coverage on Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target for the company. Finally, B. Riley dropped their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.33.

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.