iQSTEL Inc. (NASDAQ:IQST) Short Interest Up 21.9% in March

iQSTEL Inc. (NASDAQ:IQST) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 122,421 shares, an increase of 21.9% from the March 15th total of 100,459 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 48,404 shares, the days-to-cover ratio is currently 2.5 days.

iQSTEL Stock Down 1.2%

IQST stock opened at $1.65 on Friday. The business has a 50 day moving average price of $1.89 and a two-hundred day moving average price of $3.46. The company has a market cap of $8.37 million and a price-to-earnings ratio of -0.87. iQSTEL has a twelve month low of $1.48 and a twelve month high of $18.68.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IQST. Geode Capital Management LLC bought a new position in iQSTEL in the second quarter valued at approximately $288,000. Cetera Investment Advisers bought a new position in iQSTEL in the second quarter valued at approximately $148,000. Finally, DRW Securities LLC grew its stake 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 in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of iQSTEL in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

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.