iQSTEL Inc. (NASDAQ:IQST) Short Interest Down 22.9% in March

iQSTEL Inc. (NASDAQ:IQST) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 100,459 shares, a decrease of 22.9% from the February 26th total of 130,299 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 82,736 shares, the short-interest ratio is currently 1.2 days.

iQSTEL Stock Down 6.3%

Shares of NASDAQ IQST opened at $1.50 on Friday. The company has a market capitalization of $6.89 million and a PE ratio of -1.00. iQSTEL has a twelve month low of $1.48 and a twelve month high of $18.68. The firm has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $3.87.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new stake in iQSTEL in the second quarter worth $288,000. Cetera Investment Advisers bought a new position in shares of iQSTEL during the 2nd quarter worth about $148,000. Finally, DRW Securities LLC boosted its position in shares of iQSTEL by 74.2% during the 4th quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after purchasing an additional 13,628 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iQSTEL in a research note on Monday, December 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.