Sequans Communications S.A. (NYSE:SQNS) Sees Significant Drop in Short Interest

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 823,600 shares, a decrease of 16.2% from the August 31st total of 983,100 shares. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is currently 0.5 days. Currently, 1.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Sequans Communications

Several hedge funds have recently bought and sold shares of the stock. Bardin Hill Management Partners LP acquired a new position in shares of Sequans Communications in the fourth quarter worth about $2,497,000. Vazirani Asset Management LLC purchased a new position in shares of Sequans Communications in the 4th quarter valued at about $1,840,000. Finally, Black Maple Capital Management LP acquired a new position in Sequans Communications in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Up 0.9 %

Shares of SQNS opened at $1.11 on Monday. The company has a market capitalization of $68.75 million, a price-to-earnings ratio of -1.41 and a beta of 0.24. Sequans Communications has a 52 week low of $0.34 and a 52 week high of $2.97. The stock’s 50-day moving average price is $0.79 and its 200-day moving average price is $0.62.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Roth Mkm restated a “buy” rating and issued a $3.00 price objective on shares of Sequans Communications in a research note on Monday, August 26th. StockNews.com started coverage on shares of Sequans Communications in a research note on Monday. They set a “sell” rating for the company.

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.