Short Interest in iQSTEL Inc. (NASDAQ:IQST) Increases By 58.9%

iQSTEL Inc. (NASDAQ:IQST) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 160,150 shares, an increase of 58.9% from the December 31st total of 100,806 shares. Based on an average daily volume of 104,117 shares, the days-to-cover ratio is currently 1.5 days. Currently, 3.5% of the company’s stock are sold short. Currently, 3.5% of the company’s stock are sold short. Based on an average daily volume of 104,117 shares, the days-to-cover ratio is currently 1.5 days.

iQSTEL Trading Up 1.4%

NASDAQ:IQST traded up $0.04 during mid-day trading on Friday, hitting $2.85. The stock had a trading volume of 34,934 shares, compared to its average volume of 84,355. The company has a 50 day simple moving average of $3.34 and a 200-day simple moving average of $5.51. The stock has a market capitalization of $13.08 million and a price-to-earnings ratio of -1.90. iQSTEL has a 52 week low of $2.63 and a 52 week high of $18.68.

iQSTEL (NASDAQ:IQST) last posted its earnings results on Friday, November 14th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.27). The business had revenue of $102.87 million during the quarter, compared to analyst estimates of $84.59 million. iQSTEL had a negative net margin of 2.50% and a negative return on equity of 56.70%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of iQSTEL in a report on Monday, December 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Investors Weigh In On iQSTEL

An institutional investor recently bought a new position in iQSTEL stock. Geode Capital Management LLC acquired a new position in shares of iQSTEL Inc. (NASDAQ:IQST) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 29,732 shares of the company’s stock, valued at approximately $288,000. Geode Capital Management LLC owned 1.03% of iQSTEL at the end of the most recent 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.