Sequans Communications (NYSE:SQNS) Now Covered by StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Sequans Communications (NYSE:SQNS) in a research report issued to clients and investors on Saturday. The brokerage set a “sell” rating on the semiconductor company’s stock.

Sequans Communications Stock Up 1.3 %

Shares of NYSE:SQNS opened at $0.49 on Friday. The firm has a fifty day simple moving average of $0.57 and a two-hundred day simple moving average of $1.14. Sequans Communications has a 52 week low of $0.34 and a 52 week high of $2.97. The stock has a market capitalization of $30.35 million, a P/E ratio of -0.62 and a beta of 0.16.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings data on Tuesday, June 18th. The semiconductor company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Sequans Communications had a negative return on equity of 1,229.91% and a negative net margin of 172.27%. The company had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $7.20 million. On average, analysts expect that Sequans Communications will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On Sequans Communications

A number of large investors have recently made changes to their positions in SQNS. Black Maple Capital Management LP purchased a new stake in Sequans Communications in the fourth quarter worth $43,000. Vazirani Asset Management LLC bought a new stake in Sequans Communications during the 4th quarter valued at about $1,840,000. Finally, Bardin Hill Management Partners LP bought a new stake in Sequans Communications during the 4th quarter valued at about $2,497,000. 63.33% of the stock is owned by hedge funds and other 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.