Sequans Communications (NYSE:SQNS) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Sequans Communications S.A. (NYSE:SQNS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.73 and traded as high as $2.45. Sequans Communications shares last traded at $2.37, with a volume of 14,284 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on SQNS. Roth Mkm restated a “buy” rating and set a $7.50 target price on shares of Sequans Communications in a research note on Monday, August 26th. StockNews.com began coverage on Sequans Communications in a report on Tuesday, October 8th. They set a “sell” rating on the stock.

Sequans Communications Stock Performance

The firm has a market capitalization of $58.65 million, a PE ratio of -1.46 and a beta of 0.25. The business’s fifty day simple moving average is $2.43 and its 200-day simple moving average is $1.74.

Sequans Communications (NYSE:SQNS) last issued its earnings results on Friday, August 23rd. The semiconductor company reported ($0.30) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.30). The firm had revenue of $9.68 million during the quarter, compared to the consensus estimate of $9.70 million. Sell-side analysts expect that Sequans Communications S.A. will post -1.48 earnings per share for the current fiscal year.

About Sequans Communications

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.