Sequans Communications (NYSE:SQNS) Coverage Initiated at B. Riley

Key Points

• Investment firm B. Riley has initiated coverage on Sequans Communications, setting a "buy" rating and a price target of $13.00, indicating a potential upside of 63.62% from the current price.
• Recent analyst ratings show mixed opinions: while one firm upgraded the stock to "strong-buy," others have lowered their ratings, with an average rating of "Moderate Buy" across the board.
• Institutional investors hold 63.33% of Sequans Communications’ stock, with notable investments from various hedge funds in the second quarter.

Investment analysts at B. Riley assumed coverage on shares of Sequans Communications (NYSE:SQNS - Get Free Report) in a research report issued on Thursday, Marketbeat reports. The brokerage set a "buy" rating and a $13.00 price target on the semiconductor company's stock. B. Riley's target price would indicate a potential upside of 63.62% from the company's current price.

A number of other brokerages have also recently commented on SQNS. Wall Street Zen cut Sequans Communications from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Northland Capmk upgraded Sequans Communications to a "strong-buy" rating in a research note on Monday, August 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Sequans Communications in a research note on Wednesday, October 8th. Finally, Northland Securities initiated coverage on Sequans Communications in a research note on Monday, August 11th. They issued an "outperform" rating and a $3.50 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned 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 $8.25.

Sequans Communications Price Performance

Shares of Sequans Communications stock opened at $7.95 on Thursday. The business has a 50-day moving average of $4.55 and a 200 day moving average of $2.85. Sequans Communications has a 12 month low of $7.30 and a 12 month high of $58.30. The stock has a market capitalization of $113.85 million, a price-to-earnings ratio of 0.43 and a beta of 0.46.

Institutional Investors Weigh In On Sequans Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewGen Asset Management Ltd purchased a new stake in Sequans Communications in the second quarter valued at approximately $4,638,000. Boothbay Fund Management LLC lifted its stake in Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company's stock valued at $2,460,000 after buying an additional 25,000 shares during the last quarter. Meteora Capital LLC purchased a new stake in Sequans Communications in the second quarter valued at approximately $74,000. Hood River Capital Management LLC purchased a new stake in Sequans Communications in the second quarter valued at approximately $20,746,000. Finally, NewGen Equity Long Short Fund purchased a new stake in Sequans Communications in the second quarter valued at approximately $4,638,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

About Sequans Communications

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.

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