Sequans Communications (NYSE:SQNS) Stock Crosses Above Two Hundred Day Moving Average of $0.64

Sequans Communications S.A. (NYSE:SQNS)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.64 and traded as high as $1.14. Sequans Communications shares last traded at $1.11, with a volume of 1,037,414 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Roth Mkm reiterated a “buy” rating and set a $3.00 price objective on shares of Sequans Communications in a report on Monday, August 26th. StockNews.com initiated coverage on Sequans Communications in a research note on Friday. They issued a “sell” rating on the stock.

Sequans Communications Stock Performance

The business has a 50 day moving average price of $0.64 and a 200-day moving average price of $0.63.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, June 18th. The semiconductor company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $6.03 million for the quarter, compared to analyst estimates of $7.20 million. Sequans Communications had a negative return on equity of 1,229.91% and a negative net margin of 172.27%. On average, research analysts forecast that Sequans Communications S.A. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SQNS. Black Maple Capital Management LP acquired a new stake in shares of Sequans Communications during the 4th quarter worth $43,000. Vazirani Asset Management LLC acquired a new stake in shares of Sequans Communications during the 4th quarter worth $1,840,000. Finally, Bardin Hill Management Partners LP acquired a new stake in shares of Sequans Communications during the 4th quarter worth $2,497,000. 63.33% of the stock is owned by institutional investors and hedge funds.

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.