Sequans Communications (NYSE:SQNS) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Sequans Communications S.A. (NYSE:SQNS) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.52 and traded as high as $3.25. Sequans Communications shares last traded at $3.07, with a volume of 62,820 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

Sequans Communications Stock Up 1.8 %

The firm has a market cap of $78.60 million, a PE ratio of 2.23 and a beta of 0.33. The business’s 50 day moving average price is $3.16 and its 200 day moving average price is $2.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.36 and a quick ratio of 1.33.

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 Sequans Communications S.A. (NYSE:SQNS) during the 3rd quarter, according to its most recent 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 about 11.60% of Sequans Communications at the end of the most recent reporting period. 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.