iQSTEL (NASDAQ:IQST) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of iQSTEL (NASDAQ:IQST) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other analysts also recently commented on the company. Wall Street Zen upgraded iQSTEL from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $18.00.

iQSTEL Stock Up 1.6%

Shares of iQSTEL stock opened at $1.24 on Wednesday. iQSTEL has a 52-week low of $0.87 and a 52-week high of $10.37. The company’s 50-day simple moving average is $1.18 and its 200-day simple moving average is $1.80. The firm has a market cap of $8.36 million and a price-to-earnings ratio of -0.46.

iQSTEL (NASDAQ:IQST) last posted 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 firm had revenue of $97.92 million for the quarter. Equities research analysts anticipate that iQSTEL will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. DRW Securities LLC lifted its stake in iQSTEL by 74.2% in the 4th quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock valued at $93,000 after buying an additional 13,628 shares in the last quarter. Cetera Investment Advisers purchased a new position in iQSTEL during the second quarter worth $148,000. Finally, Geode Capital Management LLC purchased a new position in iQSTEL during the second quarter worth $288,000.

About iQSTEL

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.