Short Interest in Sequans Communications S.A. (NYSE:SQNS) Drops By 64.0%

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 123,881 shares, a decline of 64.0% from the April 15th total of 343,679 shares. Based on an average daily trading volume, of 331,667 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC purchased a new position in Sequans Communications in the fourth quarter valued at $1,337,000. Yorkville Advisors Global LP purchased a new position in Sequans Communications in the third quarter valued at $7,218,000. Credit Industriel ET Commercial boosted its holdings in Sequans Communications by 214.3% in the fourth quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock valued at $988,000 after purchasing an additional 150,000 shares during the period. Krilogy Financial LLC purchased a new position in Sequans Communications in the third quarter valued at $568,000. Finally, SmartHarvest Portfolios LLC purchased a new position in Sequans Communications in the first quarter valued at $60,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SQNS has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. Wall Street Zen raised Sequans Communications from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. B. Riley Financial dropped their price objective on Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Finally, Zacks Research cut Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.33.

Sequans Communications Stock Up 10.2%

NYSE:SQNS traded up $0.39 during midday trading on Thursday, reaching $4.20. The company had a trading volume of 649,376 shares, compared to its average volume of 282,371. The firm has a market capitalization of $60.19 million, a price-to-earnings ratio of -0.31 and a beta of 0.66. The stock’s fifty day simple moving average is $3.02 and its 200-day simple moving average is $4.37. Sequans Communications has a 12-month low of $2.38 and a 12-month high of $58.30. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.02.

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.