iQSTEL Inc. (NASDAQ:IQST) Short Interest Down 22.9% in March

iQSTEL Inc. (NASDAQ:IQST) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 100,459 shares, a decrease of 22.9% from the February 26th total of 130,299 shares. Based on an average daily trading volume, of 82,736 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.2% of the company’s stock are short sold.

iQSTEL Trading Down 6.3%

Shares of IQST stock opened at $1.50 on Friday. The firm has a fifty day simple moving average of $2.19 and a two-hundred day simple moving average of $3.87. iQSTEL has a 12 month low of $1.48 and a 12 month high of $18.68. The firm has a market capitalization of $6.89 million and a PE ratio of -1.00.

Institutional Investors Weigh In On iQSTEL

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC bought a new stake in shares of iQSTEL in the 2nd quarter worth approximately $288,000. Cetera Investment Advisers purchased a new stake in iQSTEL in the second quarter worth $148,000. Finally, DRW Securities LLC grew its stake in shares of iQSTEL by 74.2% during the 4th quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after acquiring an additional 13,628 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of iQSTEL in a report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.

iQSTEL Company Profile

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.