Daniel Asher Purchases 12,300 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher purchased 12,300 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were purchased at an average price of $5.12 per share, for a total transaction of $62,976.00. Following the purchase, the insider directly owned 140,011,100 shares in the company, valued at $716,856,832. The trade was a 0.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, January 21st, Daniel Asher acquired 22,600 shares of Sequans Communications stock. The stock was purchased at an average price of $5.24 per share, with a total value of $118,424.00.
• On Tuesday, January 20th, Daniel Asher acquired 19,660 shares of Sequans Communications stock. The stock was purchased at an average cost of $5.29 per share, with a total value of $104,001.40.
• On Friday, January 16th, Daniel Asher bought 11,631 shares of Sequans Communications stock. The shares were acquired at an average price of $5.65 per share, for a total transaction of $65,715.15.
• On Thursday, January 15th, Daniel Asher bought 28,200 shares of Sequans Communications stock. The stock was acquired at an average cost of $5.65 per share, for a total transaction of $159,330.00.
• On Wednesday, January 14th, Daniel Asher purchased 15,100 shares of Sequans Communications stock. The shares were acquired at an average price of $5.69 per share, with a total value of $85,919.00.
• On Tuesday, January 13th, Daniel Asher acquired 57,809 shares of Sequans Communications stock. The shares were acquired at an average cost of $5.51 per share, for a total transaction of $318,527.59.
• On Monday, January 12th, Daniel Asher acquired 6,800 shares of Sequans Communications stock. The stock was acquired at an average price of $5.36 per share, for a total transaction of $36,448.00.
• On Friday, January 9th, Daniel Asher bought 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 bought 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 Performance

NYSE SQNS opened at $4.66 on Friday. The firm has a market cap of $66.71 million, a P/E ratio of -0.58 and a beta of 0.22. Sequans Communications S.A. has a 52-week low of $4.44 and a 52-week high of $58.30. The business’s 50-day moving average price is $5.40 and its 200 day moving average price is $9.41. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. B. Riley lowered their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. Finally, Lake Street Capital started coverage on shares of Sequans Communications in a report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Hedge Funds Weigh In On Sequans Communications

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

About Sequans Communications

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.