iQSTEL Inc. (NASDAQ:IQST) Short Interest Update

iQSTEL Inc. (NASDAQ:IQST) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 533,525 shares, a decrease of 33.8% from the July 30th total of 805,685 shares. Based on an average daily volume of 1,217,901 shares, the days-to-cover ratio is currently 0.4 days. Currently, 7.9% of the shares of the company are short sold.

Institutional Investors Weigh In On iQSTEL

Hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new position in iQSTEL during the 2nd quarter worth approximately $148,000. Geode Capital Management LLC acquired a new stake in shares of iQSTEL in the 2nd quarter valued at approximately $288,000. Finally, DRW Securities LLC boosted its stake in shares of iQSTEL by 74.2% in the fourth quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock valued at $93,000 after buying an additional 13,628 shares in the last quarter.

iQSTEL Stock Performance

IQST traded up $0.01 during trading on Wednesday, hitting $0.93. The stock had a trading volume of 22,209 shares, compared to its average volume of 2,143,958. The firm has a market capitalization of $10.11 million, a P/E ratio of -0.41 and a beta of 1.15. iQSTEL has a twelve month low of $0.87 and a twelve month high of $7.23. The company’s 50-day moving average price is $1.08 and its 200 day moving average price is $1.40.

iQSTEL (NASDAQ:IQST) last released its earnings results on Tuesday, August 18th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.15). The firm had revenue of $109.07 million during the quarter. iQSTEL had a negative return on equity of 45.19% and a negative net margin of 2.43%. As a group, equities analysts expect that iQSTEL will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of iQSTEL from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Zacks Research raised iQSTEL from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.