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

Sequans Communications S.A. (NYSE:SQNS) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 36,600 shares, a decline of 39.0% from the February 13th total of 60,000 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 120,000 shares, the short-interest ratio is presently 0.3 days.

Sequans Communications Trading Down 0.7 %

NYSE:SQNS traded down $0.02 during mid-day trading on Friday, reaching $2.22. 104,805 shares of the company’s stock traded hands, compared to its average volume of 250,517. Sequans Communications has a 12-month low of $0.85 and a 12-month high of $4.28. The firm has a market capitalization of $54.55 million, a price-to-earnings ratio of 1.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.21 and a quick ratio of 2.13. The company has a 50 day moving average price of $2.82 and a 200-day moving average price of $2.77.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings results on Tuesday, February 11th. The semiconductor company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Sequans Communications had a return on equity of 186.78% and a net margin of 154.81%. On average, sell-side analysts predict that Sequans Communications will post -1.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new position in shares of Sequans Communications during the 4th quarter worth approximately $205,000. Manatuck Hill Partners LLC purchased a new position in shares of Sequans Communications during the 4th quarter worth approximately $218,000. Marshall Wace LLP grew its holdings in shares of Sequans Communications by 473.3% during the 4th quarter. Marshall Wace LLP now owns 112,187 shares of the semiconductor company’s stock worth $392,000 after acquiring an additional 92,620 shares during the period. Credit Industriel ET Commercial purchased a new position in shares of Sequans Communications during the 4th quarter worth approximately $1,403,000. Finally, Cigogne Management SA purchased a new position in shares of Sequans Communications during the 4th quarter worth approximately $1,643,000. Hedge funds and other 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.