Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

Key Points

• Sequans Communications saw a dramatic 93.9% decrease in short interest in September, dropping from 5.75 million shares to 353,400 shares, indicating a shift in market sentiment.
• Northland Capital recently upgraded Sequans to a "strong-buy" rating, suggesting positive expectations for the stock, while the average price target remains at $3.50.
• Institutional investors currently hold 63.33% of Sequans' stock, with new positions being added by hedge funds in recent quarters, reflecting growing confidence in the company.

Sequans Communications S.A. (NYSE:SQNS - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 353,400 shares, a decrease of 93.9% from the August 31st total of 5,750,000 shares. Based on an average trading volume of 738,400 shares, the short-interest ratio is presently 0.5 days. Approximately 13.9% of the shares of the stock are short sold. Approximately 13.9% of the shares of the stock are short sold. Based on an average trading volume of 738,400 shares, the short-interest ratio is presently 0.5 days.

Sequans Communications Price Performance

SQNS stock traded down $0.08 during mid-day trading on Tuesday, reaching $9.50. The company had a trading volume of 306,037 shares, compared to its average volume of 277,452. The stock has a 50 day simple moving average of $2.71 and a two-hundred day simple moving average of $2.27. The company has a market capitalization of $135.58 million, a price-to-earnings ratio of 0.51 and a beta of 0.44. Sequans Communications has a 52 week low of $7.30 and a 52 week high of $58.30.

Analyst Upgrades and Downgrades

SQNS has been the topic of several research analyst reports. Northland Capmk upgraded Sequans Communications to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen lowered Sequans Communications from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Northland Securities assumed coverage on Sequans Communications in a research report on Monday, August 11th. They issued an "outperform" rating and a $3.50 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Strong Buy" and an average price target of $3.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in Sequans Communications in the first quarter valued at approximately $70,000. Meteora Capital LLC bought a new position in shares of Sequans Communications during the 2nd quarter worth approximately $74,000. Two Sigma Investments LP bought a new position in shares of Sequans Communications during the 4th quarter worth approximately $205,000. FNY Investment Advisers LLC boosted its stake in shares of Sequans Communications by 54.1% during 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 period. Finally, Credit Industriel ET Commercial boosted its stake in shares of Sequans Communications by 48.8% during the 2nd quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company's stock worth $879,000 after acquiring an additional 196,162 shares during the period. 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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