iQSTEL (NASDAQ:IQST) Announces Earnings Results

iQSTEL (NASDAQ:IQST) announced its earnings results on Tuesday. The company reported ($0.38) earnings per share for the quarter, FiscalAI reports. iQSTEL had a negative net margin of 2.62% and a negative return on equity of 45.89%. The firm had revenue of $109.07 million during the quarter.

iQSTEL Stock Up 8.9%

IQST traded up $0.10 on Tuesday, reaching $1.22. 804,744 shares of the company traded hands, compared to its average volume of 2,261,720. The company has a market cap of $8.22 million and a P/E ratio of -0.46. iQSTEL has a one year low of $0.87 and a one year high of $7.34. The firm has a fifty day simple moving average of $1.13 and a two-hundred day simple moving average of $1.52.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research raised shares of iQSTEL from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a report on Wednesday, June 24th. Finally, Wall Street Zen cut iQSTEL from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, iQSTEL currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Hedge Funds Weigh In On iQSTEL

A number of institutional investors have recently modified their holdings of the stock. DRW Securities LLC grew its stake in iQSTEL by 74.2% in the fourth quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after purchasing an additional 13,628 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of iQSTEL in the 2nd quarter worth $288,000. Finally, Cetera Investment Advisers bought a new position in shares of iQSTEL during the 2nd quarter worth $148,000.

About iQSTEL

iQSTEL, Inc (NASDAQ: IQST) is a U.S.-based telecommunications company that operates a global connectivity platform for voice, data and messaging services. The company leverages cloud-native infrastructure to deliver international roaming solutions, prepaid mobile top-up services and eSIM provisioning. Its technology enables seamless wireless communications for both individual subscribers and business clients across a broad network of partner carriers.

The company’s core offerings include instant airtime reloads, cross-border mobile voice and data plans, machine-to-machine (M2M) connectivity and Internet of Things (IoT) solutions.