Short Interest in iQSTEL Inc. (NASDAQ:IQST) Decreases By 42.8%

iQSTEL Inc. (NASDAQ:IQST – Get Free Report) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 528,393 shares, a drop of 42.8% from the May 31st total of 924,525 shares. Based on an average daily volume of 1,732,980 shares, the days-to-cover ratio is presently 0.3 days. Approximately 7.9% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts have recently weighed in on IQST shares. Wall Street Zen lowered iQSTEL from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iQSTEL in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, iQSTEL currently has an average rating of “Hold” and an average price target of $18.00.

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Institutional Investors Weigh In On iQSTEL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC boosted its position 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 purchasing an additional 13,628 shares during the period. Geode Capital Management LLC bought a new stake in iQSTEL during the 2nd quarter valued at $288,000. Finally, Cetera Investment Advisers bought a new stake in shares of iQSTEL during the 2nd quarter valued at $148,000.

iQSTEL Stock Performance

IQST stock opened at $1.10 on Friday. The stock’s fifty day simple moving average is $1.27 and its two-hundred day simple moving average is $1.95. The stock has a market cap of $7.41 million and a P/E ratio of -0.41. iQSTEL has a 1-year low of $0.93 and a 1-year high of $10.62.

iQSTEL (NASDAQ:IQST – Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that iQSTEL will post -0.69 earnings per share for the current fiscal year.

About iQSTEL

(Get Free Report)

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.

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