Sequans Communications (NYSE:SQNS) Share Price Crosses Above 200 Day Moving Average - What's Next?

Sequans Communications S.A. (NYSE:SQNS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.18 and traded as high as $3.30. Sequans Communications shares last traded at $3.30, with a volume of 136,552 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Sequans Communications from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th.

Sequans Communications Stock Performance

The firm's 50-day moving average price is $2.80 and its 200-day moving average price is $2.18. 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 stock has a market cap of $84.73 million, a P/E ratio of 2.40 and a beta of 0.36.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sequans Communications stock. Oddo BHF Asset Management Sas purchased a new stake in shares of Sequans Communications S.A. (NYSE:SQNS - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,900,000 shares of the semiconductor company's stock, valued at approximately $3,451,000. Oddo BHF Asset Management Sas owned approximately 11.60% of Sequans Communications at the end of the most recent reporting period. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

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.