Sequans Communications (NYSE:SQNS) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Sequans Communications S.A. (NYSE:SQNS) 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 changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SQNS shares. StockNews.com upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Roth Mkm reissued a “buy” rating and set a $7.50 target price on shares of Sequans Communications in a report on Monday, August 26th.

Sequans Communications Trading Down 1.3 %

The firm’s 50 day moving average is $2.69 and its 200 day moving average is $2.10. 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 company has a market cap of $74.72 million, a PE ratio of 2.12 and a beta of 0.36.

Hedge Funds Weigh In On Sequans Communications

A hedge fund recently bought a new stake in Sequans Communications stock. Oddo BHF Asset Management Sas acquired a new position in Sequans Communications S.A. (NYSE:SQNS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 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 at the end of the most recent quarter. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.