iQSTEL (NASDAQ:IQST) Posts Quarterly Earnings Results, Misses Estimates By $0.27 EPS

iQSTEL (NASDAQ:IQST) issued its quarterly earnings results on Friday. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.27), Zacks reports. The firm had revenue of $102.87 million during the quarter, compared to analyst estimates of $84.59 million.

iQSTEL Stock Up 12.5%

Shares of NASDAQ IQST traded up $0.57 during mid-day trading on Friday, reaching $5.14. The company had a trading volume of 266,623 shares, compared to its average volume of 91,370. The business has a 50-day moving average price of $5.95. iQSTEL has a 1-year low of $4.42 and a 1-year high of $32.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IQST shares. Litchfield Hills Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of iQSTEL in a research report on Thursday, September 25th. Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, iQSTEL currently has an average rating of “Hold” and an average price target of $18.00.

Hedge Funds Weigh In On iQSTEL

An institutional investor recently bought a new position in iQSTEL stock. Geode Capital Management LLC acquired a new stake in shares of iQSTEL Inc. (NASDAQ:IQST) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 29,732 shares of the company’s stock, valued at approximately $288,000. Geode Capital Management LLC owned approximately 1.03% of iQSTEL at the end of the most recent quarter.

About iQSTEL

iQSTEL Inc, through its subsidiary, Etelix.com USA, LLC, provides telecom and technology solutions. It provides international long-distance voice services (ILD wholesale) for telecommunications operator; and submarine fiber optic network capacity for internet, such as 4G and 5G. The company offers voice over IP connectivity, short messages service (SMS), and international and domestic SMS termination services.