iQSTEL (NASDAQ:IQST) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of iQSTEL (NASDAQ:IQST) from a hold rating to a sell rating in a research note published on Saturday.

Several other research firms have also recently weighed in on IQST. Zacks Research cut shares of iQSTEL from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

iQSTEL Trading Down 0.8%

NASDAQ:IQST opened at $1.17 on Friday. iQSTEL has a 1 year low of $0.87 and a 1 year high of $7.57. The stock has a market cap of $7.89 million and a price-to-earnings ratio of -0.44. The stock has a 50-day moving average price of $1.13 and a two-hundred day moving average price of $1.54.

iQSTEL (NASDAQ:IQST) last announced 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). iQSTEL had a negative return on equity of 45.89% and a negative net margin of 2.62%.The business had revenue of $97.92 million during the quarter. Sell-side analysts forecast that iQSTEL will post -0.69 earnings per share for the current year.

Institutional Trading of iQSTEL

A number of hedge funds and other institutional investors have recently modified their holdings of IQST. DRW Securities LLC raised its holdings in iQSTEL by 74.2% during the fourth quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after acquiring an additional 13,628 shares in the last quarter. Cetera Investment Advisers bought a new position in iQSTEL in the second quarter valued at approximately $148,000. Finally, Geode Capital Management LLC acquired a new position in shares of iQSTEL during the 2nd quarter worth approximately $288,000.

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.