Sequans Communications (NYSE:SQNS) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Sequans Communications S.A. (NYSE:SQNS) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Several brokerages recently commented on SQNS. Roth Mkm reaffirmed a “buy” rating and set a $7.50 target price on shares of Sequans Communications in a report on Monday, August 26th. StockNews.com upgraded Sequans Communications from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th.

Sequans Communications Stock Down 1.0 %

The firm has a 50-day simple moving average of $2.69 and a two-hundred day simple moving average of $2.09. The stock has a market cap of $75.73 million, a P/E ratio of 2.15 and a beta of 0.36. The company has a current ratio of 1.36, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Institutional Trading of Sequans Communications

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

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.