iQSTEL Inc. (NASDAQ:IQST) Sees Large Drop in Short Interest

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

iQSTEL Trading Up 0.9%

Shares of NASDAQ:IQST traded up $0.01 on Thursday, reaching $1.09. 400,622 shares of the company’s stock were exchanged, compared to its average volume of 1,400,435. iQSTEL has a twelve month low of $0.93 and a twelve month high of $10.62. The company has a fifty day moving average of $1.28 and a 200-day moving average of $1.97. The company has a market capitalization of $7.34 million and a price-to-earnings ratio of -0.41.

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

Institutional Trading of iQSTEL

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC bought a new stake in shares of iQSTEL in the 2nd quarter valued at about $288,000. Cetera Investment Advisers acquired a new position in shares of iQSTEL in the 2nd quarter valued at about $148,000. Finally, DRW Securities LLC lifted its stake in 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 during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen lowered iQSTEL from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings restated 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 given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.