Sequans Communications S.A. (NYSE:SQNS) Short Interest Down 23.2% in April

Sequans Communications S.A. (NYSE:SQNS) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 860,400 shares, a decline of 23.2% from the March 31st total of 1,120,000 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 542,500 shares, the days-to-cover ratio is currently 1.6 days.

Sequans Communications Price Performance

SQNS stock traded up $0.01 during midday trading on Friday, hitting $0.53. The company’s stock had a trading volume of 53,287 shares, compared to its average volume of 300,865. Sequans Communications has a 12 month low of $0.34 and a 12 month high of $2.97. The company has a quick ratio of 0.29, a current ratio of 0.35 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $32.33 million, a price-to-earnings ratio of -0.75 and a beta of 0.23. The company has a 50 day moving average of $0.72 and a two-hundred day moving average of $2.11.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The firm had revenue of $4.77 million for the quarter. Sequans Communications had a negative return on equity of 1,218.46% and a negative net margin of 122.10%. On average, analysts expect that Sequans Communications will post -0.55 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Sequans Communications to a “sell” rating in a research report on Friday.

Institutional Trading of Sequans Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Black Maple Capital Management LP purchased a new stake in Sequans Communications during the 4th quarter valued at $43,000. Belvedere Trading LLC increased its stake in Sequans Communications by 97.3% in the third quarter. Belvedere Trading LLC now owns 45,100 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 22,241 shares during the period. Trium Capital LLP purchased a new stake in Sequans Communications in the third quarter worth $375,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in Sequans Communications in the third quarter worth $425,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Sequans Communications in the third quarter worth $594,000. 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.