Sequans Communications (NYSE:SQNS) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Sequans Communications shares rose above their two hundred-day moving average, trading at $9.91 with a high of $10.00.
• Analysts have mixed views, with one firm rating the stock as a sell, while others issued a target price of $3.50 and a Strong Buy consensus rating.
• Institutional ownership is significant, with funds increasing their stakes, leading to 63.33% of the company being owned by institutional investors.

Sequans Communications S.A. (NYSE:SQNS - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.43 and traded as high as $10.00. Sequans Communications shares last traded at $9.91, with a volume of 176,131 shares traded.

Analysts Set New Price Targets

A number of research firms recently weighed in on SQNS. Wall Street Zen lowered shares of Sequans Communications from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Northland Securities began coverage on shares of Sequans Communications in a report on Monday, August 11th. They issued an "outperform" rating and a $3.50 target price on the stock. Finally, Northland Capmk upgraded shares of Sequans Communications to a "strong-buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of $3.50.

Sequans Communications Trading Up 1.3%

The company's fifty day moving average is $3.16 and its 200 day moving average is $2.43. The company has a market cap of $142.00 million, a P/E ratio of 0.54 and a beta of 0.46.

Hedge Funds Weigh In On Sequans Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in shares of Sequans Communications during the 1st quarter valued at $70,000. Meteora Capital LLC bought a new position in shares of Sequans Communications during the 2nd quarter valued at $74,000. Two Sigma Investments LP bought a new position in shares of Sequans Communications during the 4th quarter valued at $205,000. FNY Investment Advisers LLC grew its holdings in Sequans Communications by 54.1% in the 1st quarter. FNY Investment Advisers LLC now owns 134,830 shares of the semiconductor company's stock worth $283,000 after acquiring an additional 47,307 shares during the last quarter. Finally, Groupe la Francaise bought a new stake in Sequans Communications in the 1st quarter worth $988,000. Institutional investors own 63.33% of the company's stock.

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.

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