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

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

Sequans Communications Stock Performance

Shares of SQNS stock traded down $0.01 on Friday, hitting $0.52. The company had a trading volume of 44,251 shares, compared to its average volume of 97,148. Sequans Communications has a twelve month low of $0.34 and a twelve month high of $2.97. The company has a 50-day moving average price of $0.57 and a 200-day moving average price of $1.07.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings results on Tuesday, June 18th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $6.03 million during the quarter, compared to the consensus estimate of $7.20 million. Sequans Communications had a negative return on equity of 1,229.91% and a negative net margin of 172.27%. On average, equities analysts expect that Sequans Communications will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

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.