iQSTEL (NASDAQ:IQST) Announces Quarterly Earnings Results, Misses Estimates By $0.27 EPS

iQSTEL (NASDAQ:IQST) posted its quarterly earnings results on Friday. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.27), Zacks reports. The business had revenue of $102.87 million during the quarter, compared to the consensus estimate of $84.59 million.

iQSTEL Trading Up 12.5%

Shares of IQST stock traded up $0.57 during trading hours on Friday, hitting $5.14. The stock had a trading volume of 266,623 shares, compared to its average volume of 91,370. The stock has a 50 day moving average price of $5.95. iQSTEL has a twelve month low of $4.42 and a twelve month high of $32.68.

Analyst Ratings Changes

Several research firms recently weighed in on IQST. Litchfield Hills Research restated a “buy” rating and set a $18.00 target price on shares of iQSTEL in a research note on Thursday, September 25th. Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.00.

Institutional Investors Weigh In On iQSTEL

A hedge fund recently bought a new stake in iQSTEL stock. Geode Capital Management LLC purchased a new position in shares of iQSTEL Inc. (NASDAQ:IQST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 29,732 shares of the company’s stock, valued at approximately $288,000. Geode Capital Management LLC owned about 1.03% of iQSTEL as of its most recent SEC filing.

About iQSTEL

iQSTEL Inc, through its subsidiary, Etelix.com USA, LLC, provides telecom and technology solutions. It provides international long-distance voice services (ILD wholesale) for telecommunications operator; and submarine fiber optic network capacity for internet, such as 4G and 5G. The company offers voice over IP connectivity, short messages service (SMS), and international and domestic SMS termination services.