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

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

iQSTEL Stock Down 5.7%

NASDAQ:IQST traded down $0.06 during trading hours on Tuesday, hitting $0.92. 73,458 shares of the stock were exchanged, compared to its average volume of 2,156,648. The company has a market capitalization of $10.05 million and a P/E ratio of -0.41. The company’s 50 day moving average is $1.09 and its two-hundred day moving average is $1.41. iQSTEL has a twelve month low of $0.87 and a twelve month high of $7.23.

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

Institutional Investors Weigh In On iQSTEL

Hedge funds have recently bought and sold shares of the company. DRW Securities LLC grew its stake in shares of iQSTEL by 74.2% during the 4th quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after acquiring an additional 13,628 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of iQSTEL during the 2nd quarter worth about $148,000. Finally, Geode Capital Management LLC bought a new stake in shares of iQSTEL in the 2nd quarter valued at about $288,000.

Analyst Upgrades and Downgrades

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

iQSTEL Company Profile

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.