iQSTEL Inc. (NASDAQ:IQST) Short Interest Down 33.8% in August

iQSTEL Inc. (NASDAQ:IQSTGet Free Report) was the recipient of a significant decrease in short interest in 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. Currently, 7.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,217,901 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of iQSTEL from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Zacks Research upgraded shares of iQSTEL from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of iQSTEL in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.00.

Get Our Latest Stock Analysis on IQST

iQSTEL Stock Down 5.7%

Shares of IQST traded down $0.06 during mid-day trading on Tuesday, hitting $0.92. 73,458 shares of the company’s stock were exchanged, compared to its average volume of 2,156,648. iQSTEL has a 52 week low of $0.87 and a 52 week high of $7.23. The stock’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.41. The firm has a market cap of $10.05 million and a price-to-earnings ratio of -0.41.

iQSTEL (NASDAQ:IQSTGet Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.15). The company had revenue of $109.07 million during the quarter. iQSTEL had a negative net margin of 2.43% and a negative return on equity of 45.19%. Analysts forecast that iQSTEL will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of iQSTEL

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new position in iQSTEL in the second quarter valued at about $148,000. Geode Capital Management LLC bought a new position in iQSTEL in the 2nd quarter valued at about $288,000. Finally, DRW Securities LLC raised its position in shares of iQSTEL by 74.2% in the 4th 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.

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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