iQSTEL Inc. (NASDAQ:IQST) Short Interest Down 42.8% in June

iQSTEL Inc. (NASDAQ:IQST) was the recipient of a large decline in short interest in 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. Based on an average daily volume of 1,732,980 shares, the days-to-cover ratio is presently 0.3 days. Currently, 7.9% of the company’s stock are short sold.

iQSTEL Trading Down 6.9%

IQST stock traded down $0.08 during midday trading on Wednesday, hitting $1.08. The company’s stock had a trading volume of 1,113,645 shares, compared to its average volume of 1,408,264. The company has a market cap of $7.28 million and a PE ratio of -0.40. iQSTEL has a 12 month low of $0.93 and a 12 month high of $10.68. The firm’s 50-day moving average is $1.29 and its 200-day moving average is $1.99.

iQSTEL (NASDAQ:IQST) last issued its earnings results on Wednesday, May 20th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.17). The business had revenue of $97.92 million for the quarter. iQSTEL had a negative net margin of 2.62% and a negative return on equity of 45.89%. Analysts expect that iQSTEL will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

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 research report on Saturday, June 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of iQSTEL in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, iQSTEL currently has an average rating of “Hold” and a consensus target price of $18.00.

Hedge Funds Weigh In On iQSTEL

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC bought a new stake in shares of iQSTEL in the second quarter worth approximately $288,000. Cetera Investment Advisers bought a new position in iQSTEL during the second quarter valued at approximately $148,000. Finally, DRW Securities LLC boosted its holdings in iQSTEL by 74.2% in the fourth quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after purchasing an additional 13,628 shares during the last quarter.

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.