Shares of Sequans Communications SA (NYSE:SQNS) shot up 15.7% during trading on Wednesday . The stock traded as high as $5.19 and last traded at $5.00, 468,000 shares traded hands during trading. An increase of 144% from the average session volume of 191,655 shares. The stock had previously closed at $4.32.
Several brokerages have recently commented on SQNS. Robert W. Baird increased their target price on Sequans Communications from $4.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday. Roth Capital restated a “buy” rating and set a $12.25 target price (up previously from $3.50) on shares of Sequans Communications in a report on Tuesday, December 31st. Zacks Investment Research cut Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Canaccord Genuity restated a “buy” rating and set a $6.00 target price on shares of Sequans Communications in a report on Friday, November 29th. Finally, ValuEngine upgraded Sequans Communications from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Sequans Communications has a consensus rating of “Buy” and an average price target of $8.15.
The firm has a fifty day moving average of $4.02 and a 200-day moving average of $1.93. The firm has a market cap of $98.86 million, a P/E ratio of -3.53 and a beta of 2.54.
Sequans Communications Company Profile (NYSE:SQNS)
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
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