Sequans Communications (NYSE:SQNS) Shares Pass Above 200 Day Moving Average - What's Next?

Sequans Communications S.A. (NYSE:SQNS - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.13 and traded as high as $9.60. Sequans Communications shares last traded at $9.50, with a volume of 272,576 shares.

Wall Street Analysts Forecast Growth

SQNS has been the topic of a number of recent research reports. Wall Street Zen lowered Sequans Communications from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Northland Capmk raised Sequans Communications to a "strong-buy" rating in a report on Monday, August 11th. Finally, Northland Securities began coverage on Sequans Communications in a report on Monday, August 11th. They set an "outperform" rating and a $3.50 target price for the company. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Buy" and an average price target of $3.50.

Sequans Communications Price Performance

The company has a market cap of $135.49 million, a P/E ratio of 0.51 and a beta of 0.44. The stock has a 50-day moving average of $2.32 and a 200 day moving average of $2.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SQNS. Hood River Capital Management LLC bought a new position in Sequans Communications in the second quarter valued at approximately $20,746,000. NewGen Asset Management Ltd bought a new position in shares of Sequans Communications in the 2nd quarter valued at $4,638,000. NewGen Equity Long Short Fund bought a new position in shares of Sequans Communications in the 2nd quarter valued at $4,638,000. Groupe la Francaise bought a new position in shares of Sequans Communications in the 1st quarter valued at $988,000. Finally, Credit Industriel ET Commercial grew its position in Sequans Communications by 48.8% in the second quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company's stock valued at $879,000 after acquiring an additional 196,162 shares during the last quarter. 63.33% of the stock is owned by institutional investors.

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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