iQSTEL (NASDAQ:IQST) Trading Down 2.1% – Here’s Why

Shares of iQSTEL Inc. (NASDAQ:IQST) were down 2.1% during trading on Thursday . The company traded as low as $6.90 and last traded at $7.00. Approximately 47,220 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 99,758 shares. The stock had previously closed at $7.15.

Analysts Set New Price Targets

A number of research analysts have recently commented on IQST shares. Litchfield Hills Research reissued a “buy” rating and issued a $18.00 price objective on shares of iQSTEL in a research report on Tuesday. Wall Street Zen upgraded iQSTEL to a “sell” rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, iQSTEL presently has a consensus rating of “Buy” and an average price target of $18.00.

iQSTEL Stock Performance

The stock has a 50-day moving average of $9.17.

iQSTEL (NASDAQ:IQST) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.32). The business had revenue of $72.18 million during the quarter, compared to analysts’ expectations of $70.34 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in iQSTEL stock. Cetera Investment Advisers bought a new stake in iQSTEL Inc. (NASDAQ:IQST) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,255 shares of the company’s stock, valued at approximately $148,000. Cetera Investment Advisers owned approximately 0.53% of iQSTEL at the end of the most recent quarter.

iQSTEL Company Profile

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.