iQSTEL (NASDAQ:IQST) Downgraded by Zacks Research to Strong Sell

iQSTEL (NASDAQ:IQST) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a report on Wednesday, June 24th. Wall Street Zen raised shares of iQSTEL from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, iQSTEL has a consensus rating of “Reduce” and an average price target of $18.00.

iQSTEL Stock Performance

Shares of IQST stock opened at $1.22 on Wednesday. iQSTEL has a fifty-two week low of $0.87 and a fifty-two week high of $10.37. The stock has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $1.81. The company has a market capitalization of $8.22 million and a P/E ratio of -0.46.

iQSTEL (NASDAQ:IQST) last released its quarterly earnings data on Wednesday, May 20th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.17). iQSTEL had a negative net margin of 2.62% and a negative return on equity of 45.89%. The company had revenue of $97.92 million for the quarter. As a group, equities analysts predict that iQSTEL will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.