Sequans Communications S.A. (NYSE:SQNS) Short Interest Down 17.0% in July

Sequans Communications S.A. (NYSE:SQNS) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 606,800 shares, a decline of 17.0% from the June 30th total of 731,400 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 133,900 shares, the days-to-cover ratio is currently 4.5 days.

Hedge Funds Weigh In On Sequans Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bardin Hill Management Partners LP acquired a new stake in Sequans Communications during the 4th quarter valued at $2,497,000. Vazirani Asset Management LLC acquired a new stake in shares of Sequans Communications in the fourth quarter worth $1,840,000. Finally, Black Maple Capital Management LP purchased a new position in shares of Sequans Communications during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Sequans Communications in a report on Sunday. They set a “sell” rating for the company.

Sequans Communications Stock Performance

Shares of NYSE SQNS traded down $0.01 during mid-day trading on Friday, reaching $0.52. The company had a trading volume of 44,251 shares, compared to its average volume of 97,148. The company has a 50-day moving average price of $0.57 and a two-hundred day moving average price of $1.07. Sequans Communications has a 1-year low of $0.34 and a 1-year high of $2.97.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings results on Tuesday, June 18th. The semiconductor company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $6.03 million for the quarter, compared to analysts’ expectations of $7.20 million. Sequans Communications had a negative return on equity of 1,229.91% and a negative net margin of 172.27%. As a group, sell-side analysts forecast that Sequans Communications will post -0.51 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.