Sequans Communications (NYSE:SQNS) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Sequans Communications S.A. (NYSE:SQNS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.32 and traded as high as $3.53. Sequans Communications shares last traded at $3.41, with a volume of 144,942 shares traded.

Wall Street Analysts Forecast Growth

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

Sequans Communications Price Performance

The company's 50 day moving average price is $3.02 and its 200 day moving average price is $2.32. The firm has a market capitalization of $85.23 million, a P/E ratio of 2.42 and a beta of 0.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.36 and a quick ratio of 1.33.

Institutional Trading of Sequans Communications

A hedge fund recently bought a new stake in Sequans Communications stock. Oddo BHF Asset Management Sas purchased a new stake in Sequans Communications S.A. (NYSE:SQNS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.