Sequans Communications S.A. (NYSE:SQNS) Short Interest Update

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

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Roth Mkm reaffirmed a “buy” rating and set a $3.00 target price on shares of Sequans Communications in a research note on Monday, August 26th. StockNews.com began coverage on shares of Sequans Communications in a research report on Monday. They set a “sell” rating on the stock.

Sequans Communications Stock Performance

NYSE:SQNS opened at $1.11 on Monday. The firm has a 50-day simple moving average of $0.79 and a 200-day simple moving average of $0.62. Sequans Communications has a one year low of $0.34 and a one year high of $2.97. The firm has a market cap of $68.75 million, a P/E ratio of -1.41 and a beta of 0.24.

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.