iQSTEL (NASDAQ:IQST) Stock Rating Lowered by Zacks Research

iQSTEL (NASDAQ:IQST) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

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

iQSTEL Stock Performance

IQST opened at $1.22 on Wednesday. The company has a market cap of $8.22 million and a price-to-earnings ratio of -0.46. iQSTEL has a one year low of $0.87 and a one year high of $10.37. The business’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.81.

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

Institutional Trading of iQSTEL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IQST. Geode Capital Management LLC acquired a new position in shares of iQSTEL during the 2nd quarter valued at about $288,000. Cetera Investment Advisers purchased a new stake in iQSTEL in the second quarter valued at approximately $148,000. Finally, DRW Securities LLC grew 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 purchasing an additional 13,628 shares during the period.

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.