iQSTEL Inc. (NASDAQ:IQST) Sees Significant Growth in Short Interest

iQSTEL Inc. (NASDAQ:IQST) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 710,721 shares, a growth of 90.3% from the April 15th total of 373,460 shares. Based on an average daily trading volume, of 923,103 shares, the short-interest ratio is presently 0.8 days. Currently, 14.2% of the company’s shares are short sold.

Institutional Trading of iQSTEL

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DRW Securities LLC raised its holdings in iQSTEL by 74.2% during 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 during the period. Cetera Investment Advisers bought a new position in iQSTEL in the 2nd quarter valued at $148,000. Finally, Geode Capital Management LLC bought a new position in iQSTEL in the 2nd quarter valued at $288,000.

iQSTEL Trading Down 1.5%

NASDAQ:IQST traded down $0.02 during midday trading on Friday, hitting $1.28. 137,699 shares of the company traded hands, compared to its average volume of 677,610. The firm’s fifty day moving average is $1.66 and its 200-day moving average is $2.80. iQSTEL has a 12-month low of $1.21 and a 12-month high of $14.45. The firm has a market capitalization of $6.49 million and a P/E ratio of -0.68.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, iQSTEL has a consensus rating of “Hold” and a consensus price target 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.