Sequans Communications (NYSE:SQNS) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Sequans Communications S.A. (NYSE:SQNS) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.09 and traded as high as $3.14. Sequans Communications shares last traded at $3.03, with a volume of 27,197 shares trading hands.

Analyst Ratings Changes

SQNS has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $7.50 target price on shares of Sequans Communications in a report on Monday, August 26th. StockNews.com raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th.

Sequans Communications Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.36 and a quick ratio of 1.33. The stock’s 50 day moving average is $2.69 and its 200-day moving average is $2.10. The company has a market capitalization of $74.72 million, a P/E ratio of 2.12 and a beta of 0.36.

Hedge Funds Weigh In On Sequans Communications

An institutional investor recently bought a new position in Sequans Communications stock. Oddo BHF Asset Management Sas bought a new stake in shares of Sequans Communications S.A. (NYSE:SQNS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,900,000 shares of the semiconductor company’s stock, valued at approximately $3,451,000. Oddo BHF Asset Management Sas owned approximately 11.60% of Sequans Communications at the end of the most recent quarter. 63.33% of the stock is owned by institutional investors and hedge funds.

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.