Sequans Communications (NYSE:SQNS) Shares Cross Above 200 Day Moving Average - Here's What Happened

Shares of Sequans Communications S.A. (NYSE:SQNS - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.90 and traded as high as $2.70. Sequans Communications shares last traded at $2.69, with a volume of 148,245 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Sequans Communications from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Roth Mkm reaffirmed a "buy" rating and set a $7.50 price target on shares of Sequans Communications in a research report on Monday, August 26th.

Sequans Communications Stock Performance

The stock's 50 day moving average price is $2.54 and its 200 day moving average price is $1.90. The company has a current ratio of 1.36, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $68.89 million, a PE ratio of 1.91 and a beta of 0.28.

Sequans Communications (NYSE:SQNS - Get Free Report) last posted its earnings results on Friday, August 23rd. The semiconductor company reported ($0.30) earnings per share for the quarter, hitting 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. Sequans Communications had a net margin of 138.26% and a return on equity of 403.46%. As a group, equities analysts forecast that Sequans Communications S.A. will post -1.48 earnings per share for the current fiscal year.

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.