iQSTEL (NASDAQ:IQST) Announces Quarterly Earnings Results

iQSTEL (NASDAQ:IQST) announced its earnings results on Tuesday. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.15), FiscalAI reports. The company had revenue of $109.07 million during the quarter. iQSTEL had a negative net margin of 2.43% and a negative return on equity of 45.92%.

iQSTEL Stock Down 17.2%

iQSTEL stock opened at $1.01 on Thursday. iQSTEL has a twelve month low of $0.87 and a twelve month high of $7.34. The firm has a market cap of $6.81 million and a P/E ratio of -0.45. The business has a fifty day moving average of $1.13 and a two-hundred day moving average of $1.49.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. DRW Securities LLC lifted its holdings in 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 acquiring an additional 13,628 shares during the period. Geode Capital Management LLC purchased a new position in iQSTEL in the second quarter worth approximately $288,000. Finally, Cetera Investment Advisers acquired a new position in iQSTEL in the second quarter valued at about $148,000.

Analyst Upgrades and Downgrades

IQST has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a research note on Wednesday, June 24th. Zacks Research upgraded shares of iQSTEL from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded iQSTEL from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research 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. According to MarketBeat.com, iQSTEL presently has a consensus rating of “Hold” and a consensus price target 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.