Sequans Communications (NYSE:SQNS) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Sequans Communications received a "sell (e+)" rating from Weiss Ratings, indicating a negative outlook for the company's stock performance.
• The stock price fell by 3.5% to $9.42, with a consensus price target of $3.50 and an average rating of "Moderate Buy" from analysts.
• Institutional investors hold 63.33% of Sequans Communications' stock, indicating significant interest from larger financial entities.

Sequans Communications (NYSE:SQNS - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Sequans Communications from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Northland Capmk raised shares of Sequans Communications to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Northland Securities initiated coverage on shares of Sequans Communications in a research note on Monday, August 11th. They issued an "outperform" rating and a $3.50 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Sequans Communications presently has an average rating of "Moderate Buy" and a consensus price target of $3.50.

Sequans Communications Trading Down 3.5%

SQNS stock traded down $0.34 during trading on Wednesday, hitting $9.42. 175,773 shares of the stock traded hands, compared to its average volume of 393,011. Sequans Communications has a one year low of $7.30 and a one year high of $58.30. The stock has a market cap of $134.99 million, a price-to-earnings ratio of 0.51 and a beta of 0.46. The company has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $2.63.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AMH Equity Ltd grew its holdings in Sequans Communications by 14.8% during the first quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company's stock valued at $1,680,000 after purchasing an additional 103,058 shares during the period. Two Sigma Investments LP bought a new stake in shares of Sequans Communications in the fourth quarter worth $205,000. XTX Topco Ltd bought a new stake in shares of Sequans Communications in the first quarter worth $70,000. Groupe la Francaise acquired a new stake in Sequans Communications in the first quarter valued at $988,000. Finally, FNY Investment Advisers LLC lifted its stake in Sequans Communications by 54.1% in the first quarter. FNY Investment Advisers LLC now owns 134,830 shares of the semiconductor company's stock valued at $283,000 after acquiring an additional 47,307 shares during the last quarter. Institutional investors and hedge funds 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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