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

Key Points

• Sequans Communications has been given a "sell (e+)" rating by Weiss Ratings, indicating a negative outlook for the stock.
• In contrast, Northland Securities issued an "outperform" rating with a price target of $3.50, while B. Riley set a "buy" rating" with a target of $13.00.
• Institutional investors hold 63.33% of Sequans Communications stock, reflecting significant interest from hedge funds, including substantial new investments in the second quarter.

Sequans Communications (NYSE:SQNS - Get Free Report)'s stock had its "sell (e+)" rating restated by equities researchers at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the company. Northland Securities began coverage on Sequans Communications in a research report on Monday, August 11th. They issued an "outperform" rating and a $3.50 price target on the stock. Wall Street Zen lowered Sequans Communications from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. B. Riley started coverage on Sequans Communications in a research note on Thursday, October 16th. They issued a "buy" rating and a $13.00 price objective on the stock. Finally, Northland Capmk raised Sequans Communications to a "strong-buy" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $8.25.

Sequans Communications Stock Up 0.4%

Shares of Sequans Communications stock opened at $7.04 on Friday. Sequans Communications has a 12-month low of $6.88 and a 12-month high of $58.30. The stock has a market cap of $100.88 million, a P/E ratio of 0.38 and a beta of 0.46. The business's 50 day moving average is $5.41 and its 200-day moving average is $3.12.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC bought a new position in shares of Sequans Communications during the second quarter worth about $20,746,000. NewGen Equity Long Short Fund purchased a new position in Sequans Communications in the second quarter worth $4,638,000. NewGen Asset Management Ltd purchased a new position in Sequans Communications in the second quarter worth $4,638,000. Boothbay Fund Management LLC boosted its position 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 worth $2,460,000 after purchasing an additional 25,000 shares during the last quarter. Finally, AMH Equity Ltd boosted its position in Sequans Communications by 14.8% in the first quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company's stock worth $1,680,000 after purchasing an additional 103,058 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors.

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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