Sequans Communications SA (NYSE:SQNS)’s stock price rose 19% on Wednesday . The company traded as high as $2.80 and last traded at $2.76, approximately 268,500 shares traded hands during mid-day trading. An increase of 544% from the average daily volume of 41,679 shares. The stock had previously closed at $2.32.
SQNS has been the subject of a number of recent analyst reports. ValuEngine upgraded Sequans Communications from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Canaccord Genuity restated a “buy” rating and set a $6.00 price objective on shares of Sequans Communications in a research report on Friday, November 29th. Finally, Zacks Investment Research upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Sequans Communications currently has a consensus rating of “Buy” and a consensus price target of $8.33.
The stock has a market capitalization of $55.12 million, a price-to-earnings ratio of -1.92 and a beta of 2.66. The stock has a 50-day simple moving average of $0.93 and a 200 day simple moving average of $0.92.
Hedge funds and other institutional investors have recently made changes to their positions in the business. AWM Investment Company Inc. lifted its holdings in shares of Sequans Communications by 1.7% during the 2nd 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 during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Sequans Communications during the 3rd quarter valued at about $112,000. Finally, Citadel Advisors LLC lifted its holdings in shares of Sequans Communications by 127.0% during the 2nd quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 36,546 shares during the last quarter. Hedge funds and other institutional investors own 43.61% of the company’s stock.
Sequans Communications Company Profile (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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