iQSTEL (NASDAQ:IQST) Announces Quarterly Earnings Results, Misses Expectations By $0.15 EPS

iQSTEL (NASDAQ:IQST) announced its quarterly earnings data on Tuesday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.15), FiscalAI reports. iQSTEL had a negative net margin of 2.62% and a negative return on equity of 45.89%. The firm had revenue of $109.07 million for the quarter.

iQSTEL Price Performance

Shares of IQST opened at $1.22 on Wednesday. iQSTEL has a 12 month low of $0.87 and a 12 month high of $7.34. The stock has a fifty day moving average price of $1.14 and a 200 day moving average price of $1.51. The company has a market cap of $8.22 million and a P/E ratio of -0.46.

Hedge Funds Weigh In On iQSTEL

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC acquired a new position in iQSTEL during the 2nd quarter valued at about $288,000. Cetera Investment Advisers acquired a new stake in shares of iQSTEL in the second quarter valued at approximately $148,000. Finally, DRW Securities LLC increased 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 purchasing an additional 13,628 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IQST. Zacks Research upgraded iQSTEL from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen downgraded shares of iQSTEL from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.