Sequans Communications (NYSE:SQNS) Stock Price Down 20.3%

Sequans Communications SA (NYSE:SQNS) shares were down 20.3% on Monday . The company traded as low as $0.46 and last traded at $0.47, approximately 1,201,077 shares changed hands during mid-day trading. An increase of 725% from the average daily volume of 145,580 shares. The stock had previously closed at $0.59.

A number of research analysts have weighed in on SQNS shares. Roth Capital lifted their price objective on shares of Sequans Communications from $2.50 to $3.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. ValuEngine cut shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, October 5th. Finally, Zacks Investment Research raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $2.38.

The business’s fifty day simple moving average is $0.79 and its two-hundred day simple moving average is $0.90. The company has a market cap of $47.17 million, a PE ratio of -1.31 and a beta of 2.69.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Sequans Communications had a negative net margin of 128.30% and a negative return on equity of 5,040.51%. The firm had revenue of $7.47 million during the quarter, compared to analysts’ expectations of $9.88 million. As a group, analysts forecast that Sequans Communications SA will post -0.31 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. increased its holdings in Sequans Communications by 1.7% in the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock valued at $8,466,000 after buying an additional 155,418 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Sequans Communications in the third quarter valued at $112,000. Finally, Citadel Advisors LLC grew its position in shares of Sequans Communications by 127.0% in the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 36,546 shares during the period. 30.97% of the stock is owned by institutional investors.

About Sequans Communications (NYSE:SQNS)

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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