iQSTEL (NASDAQ:IQST) Posts Earnings Results, Misses Expectations By $0.17 EPS

iQSTEL (NASDAQ:IQST) posted its quarterly earnings data on Wednesday. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.17), FiscalAI reports. iQSTEL had a negative net margin of 2.89% and a negative return on equity of 46.56%. The business had revenue of $97.92 million during the quarter.

iQSTEL Stock Performance

NASDAQ IQST opened at $1.28 on Thursday. The stock’s fifty day moving average is $1.62 and its two-hundred day moving average is $2.68. The firm has a market capitalization of $6.49 million and a P/E ratio of -0.68. iQSTEL has a fifty-two week low of $1.21 and a fifty-two week high of $14.45.

Hedge Funds Weigh In On iQSTEL

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DRW Securities LLC boosted its stake in iQSTEL by 74.2% during the fourth quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after buying an additional 13,628 shares during the last quarter. Cetera Investment Advisers acquired a new position in iQSTEL during the second quarter worth $148,000. Finally, Geode Capital Management LLC acquired a new position in iQSTEL during the second quarter worth $288,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.00.

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.