Short Interest in Sequans Communications S.A. (NYSE:SQNS) Grows By 34.7%

Sequans Communications S.A. (NYSE:SQNS) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 49,300 shares, an increase of 34.7% from the February 28th total of 36,600 shares. Based on an average trading volume of 113,200 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the shares of the stock are sold short.

Sequans Communications Price Performance

Shares of NYSE SQNS traded up $0.01 during mid-day trading on Monday, reaching $2.08. The company’s stock had a trading volume of 24,453 shares, compared to its average volume of 246,985. The stock has a fifty day moving average of $2.63 and a two-hundred day moving average of $2.75. The firm has a market capitalization of $51.10 million, a PE ratio of 1.04 and a beta of 0.51. Sequans Communications has a 52 week low of $0.85 and a 52 week high of $4.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.21 and a quick ratio of 2.13.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, February 11th. The semiconductor company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Sequans Communications had a return on equity of 186.78% and a net margin of 154.81%. As a group, sell-side analysts anticipate that Sequans Communications will post -1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new position in shares of Sequans Communications in the 4th quarter worth approximately $205,000. Manatuck Hill Partners LLC purchased a new position in Sequans Communications during the fourth quarter worth $218,000. Marshall Wace LLP increased its position in Sequans Communications by 473.3% during the fourth quarter. Marshall Wace LLP now owns 112,187 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 92,620 shares during the last quarter. Credit Industriel ET Commercial purchased a new position in shares of Sequans Communications during the 4th quarter worth about $1,403,000. Finally, Cigogne Management SA purchased a new position in shares of Sequans Communications during the fourth quarter valued at approximately $1,643,000. 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.