iQSTEL Inc. (NASDAQ:IQST) Sees Significant Growth in Short Interest

iQSTEL Inc. (NASDAQ:IQST) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 710,721 shares, a growth of 90.3% from the April 15th total of 373,460 shares. Based on an average daily volume of 923,103 shares, the days-to-cover ratio is presently 0.8 days. Approximately 14.2% of the shares of the stock are sold short.

Institutional Trading of iQSTEL

Several hedge funds have recently modified their holdings of the company. DRW Securities LLC raised its holdings 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 in the last quarter. Geode Capital Management LLC purchased a new stake in shares of iQSTEL during the 2nd quarter worth approximately $288,000. Finally, Cetera Investment Advisers purchased a new stake in shares of iQSTEL during the 2nd quarter worth approximately $148,000.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, iQSTEL has a consensus rating of “Hold” and a consensus price target of $18.00.

iQSTEL Stock Performance

Shares of IQST traded down $0.02 during mid-day trading on Friday, hitting $1.28. 137,699 shares of the stock were exchanged, compared to its average volume of 677,610. The company has a market cap of $6.49 million and a PE ratio of -0.68. iQSTEL has a 52-week low of $1.21 and a 52-week high of $14.45. The firm has a 50-day moving average of $1.66 and a two-hundred day moving average of $2.80.

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.