297,760 Shares in Sequans Communications S.A. $SQNS Bought by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management established a new position of 297,760 shares in Sequans Communications, worth about $1.34 million, representing roughly 2.08% ownership at the end of the quarter.
• Sequans recently reported a large earnings miss (quarterly EPS of ($1.45) vs. consensus ($0.57)) and shows weak fundamentals including a market cap near $50.4 million and deeply negative margins and ROE.
• Analyst coverage is mixed (average rating "Hold" with an average target of $20.33), while institutional investors own about 63.33% of the stock.

Wolverine Asset Management LLC bought a new position in shares of Sequans Communications S.A. (NYSE:SQNS - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 297,760 shares of the semiconductor company's stock, valued at approximately $1,337,000. Wolverine Asset Management LLC owned about 2.08% of Sequans Communications at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SQNS. Yorkville Advisors Global LP purchased a new stake in Sequans Communications during the 3rd quarter worth approximately $7,218,000. Alyeska Investment Group L.P. purchased a new stake in Sequans Communications during the 3rd quarter valued at about $2,590,000. Moore Capital Management LP purchased a new stake in Sequans Communications during the 3rd quarter valued at about $581,000. Krilogy Financial LLC purchased a new stake in shares of Sequans Communications in the 3rd quarter valued at $568,000. Finally, Boothbay Fund Management LLC boosted its holdings in shares of Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company's stock valued at $2,460,000 after acquiring an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company's stock.

Sequans Communications Stock Performance

Shares of Sequans Communications stock opened at $3.52 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.79 and a current ratio of 0.89. The business's 50 day moving average price is $2.91 and its 200 day moving average price is $4.56. Sequans Communications S.A. has a one year low of $2.38 and a one year high of $58.30. The company has a market cap of $50.44 million, a price-to-earnings ratio of -0.28 and a beta of 0.66.

Sequans Communications (NYSE:SQNS - Get Free Report) last issued its earnings results on Tuesday, May 5th. The semiconductor company reported ($1.45) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.88). Sequans Communications had a negative return on equity of 42.03% and a negative net margin of 401.31%. On average, research analysts predict that Sequans Communications S.A. will post -1.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SQNS shares. Zacks Research downgraded Sequans Communications from a "hold" rating to a "strong sell" rating in a research note on Monday, April 20th. Weiss Ratings reissued a "sell (d)" rating on shares of Sequans Communications in a report on Friday, March 27th. Finally, B. Riley Financial decreased their price objective on shares of Sequans Communications from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.33.

Sequans Communications 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.

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