Sequans Communications (NYSE:SQNS) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Sequans Communications' stock price recently exceeded its 200-day moving average, with shares trading at $8.64 after hitting a high of $9.74.
• Analysts have mixed opinions on the stock, with ratings ranging from a Strong Buy to a Sell, leading to a consensus rating of "Moderate Buy" and a target price of $3.50.
• Institutional investors hold 63.33% of Sequans Communications' shares, indicating significant interest from larger financial entities.

Sequans Communications S.A. (NYSE:SQNS - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.72 and traded as high as $9.74. Sequans Communications shares last traded at $8.64, with a volume of 428,275 shares.

Wall Street Analyst Weigh In

SQNS has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sequans Communications in a research note on Wednesday. Wall Street Zen cut shares of Sequans Communications from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Northland Securities initiated coverage on shares of Sequans Communications in a research note on Monday, August 11th. They set an "outperform" rating and a $3.50 price target on the stock. Finally, Northland Capmk raised shares of Sequans Communications to a "strong-buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.50.

Sequans Communications Trading Down 7.3%

The company has a market capitalization of $123.81 million, a price-to-earnings ratio of 0.47 and a beta of 0.46. The firm's 50 day moving average price is $4.12 and its two-hundred day moving average price is $2.72.

Institutional Trading of Sequans Communications

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in Sequans Communications in the 1st quarter valued at about $70,000. Meteora Capital LLC acquired a new position in Sequans Communications during the 2nd quarter worth approximately $74,000. Two Sigma Investments LP bought a new position in Sequans Communications in the 4th quarter valued at approximately $205,000. FNY Investment Advisers LLC lifted its stake 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 valued at $283,000 after purchasing an additional 47,307 shares during the last quarter. Finally, Groupe la Francaise bought a new position in Sequans Communications in the 1st quarter valued at approximately $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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