iQSTEL (NASDAQ:IQST) Posts Quarterly Earnings Results

iQSTEL (NASDAQ:IQST) announced its quarterly earnings data on Wednesday. The company reported ($0.29) earnings per share (EPS) for the quarter, FiscalAI reports. iQSTEL had a negative net margin of 2.89% and a negative return on equity of 46.56%. The business had revenue of $97.92 million during the quarter.

iQSTEL Stock Performance

Shares of NASDAQ IQST traded up $0.01 during trading on Wednesday, hitting $1.28. 115,355 shares of the company traded hands, compared to its average volume of 260,924. The firm has a market capitalization of $6.49 million and a price-to-earnings ratio of -0.68. The business’s fifty day moving average is $1.63 and its 200 day moving average is $2.71. iQSTEL has a fifty-two week low of $1.21 and a fifty-two week high of $14.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IQST. DRW Securities LLC increased its holdings in shares of iQSTEL by 74.2% during the fourth 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 in the last quarter. Cetera Investment Advisers bought a new stake in iQSTEL during the 2nd quarter valued at $148,000. Finally, Geode Capital Management LLC acquired a new position in iQSTEL during the second quarter worth $288,000.

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 analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.