Short Interest in Sequans Communications S.A. (NYSE:SQNS) Declines By 22.3%

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 252,300 shares, a decline of 22.3% from the September 30th total of 324,600 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 655,500 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Ratings Changes

Several brokerages have commented on SQNS. StockNews.com started coverage on shares of Sequans Communications in a research report on Tuesday, October 8th. They issued a “sell” rating on the stock. Roth Mkm reissued a “buy” rating and set a $7.50 price objective on shares of Sequans Communications in a research note on Monday, August 26th.

Sequans Communications Stock Up 0.4 %

Shares of Sequans Communications stock traded up $0.01 during trading on Tuesday, hitting $2.35. The stock had a trading volume of 77,771 shares, compared to its average volume of 291,431. Sequans Communications has a 1 year low of $0.85 and a 1 year high of $7.43. The stock has a 50 day simple moving average of $2.49 and a 200 day simple moving average of $1.76. The company has a market capitalization of $58.44 million, a PE ratio of -1.47 and a beta of 0.25.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Friday, August 23rd. The semiconductor company reported ($0.30) earnings per share for the quarter, meeting the consensus estimate of ($0.30). The business had revenue of $9.68 million for the quarter, compared to analyst estimates of $9.70 million. As a group, equities analysts expect that Sequans Communications will post -1.48 earnings per share for the current fiscal year.

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.