iQSTEL (NASDAQ:IQST) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of iQSTEL (NASDAQ:IQST) from a hold rating to a strong sell rating in a research note released on Wednesday morning,Zacks.com reports.

IQST has been the topic of several other research reports. Wall Street Zen raised iQSTEL from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, iQSTEL presently has a consensus rating of “Reduce” and an average target price of $18.00.

iQSTEL Stock Performance

Shares of IQST stock opened at $1.22 on Wednesday. The firm has a fifty day moving average of $1.18 and a 200-day moving average of $1.81. The stock has a market cap of $8.22 million and a price-to-earnings ratio of -0.46. iQSTEL has a 52-week low of $0.87 and a 52-week high of $10.37.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. DRW Securities LLC grew its position in 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 during the last quarter. Cetera Investment Advisers bought a new position in iQSTEL in the 2nd quarter valued at $148,000. Finally, Geode Capital Management LLC acquired a new position in iQSTEL in the second quarter worth $288,000.

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.