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

iQSTEL (NASDAQ:IQST) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of iQSTEL in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

iQSTEL Stock Up 2.8%

Shares of IQST opened at $1.10 on Friday. iQSTEL has a 52 week low of $0.93 and a 52 week high of $11.45. The company has a market capitalization of $7.41 million and a price-to-earnings ratio of -0.41. The stock’s 50-day moving average price is $1.40 and its 200-day moving average price is $2.25.

iQSTEL (NASDAQ:IQST) last issued its earnings results on Wednesday, May 20th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $97.92 million during the quarter. As a group, equities analysts anticipate that iQSTEL will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On iQSTEL

Institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers purchased a new position in shares of iQSTEL in the 2nd quarter valued at about $148,000. Geode Capital Management LLC acquired a new stake in iQSTEL in the 2nd quarter valued at $288,000. Finally, DRW Securities LLC grew 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 acquiring an additional 13,628 shares during the period.

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.