iQSTEL Inc. (NASDAQ:IQST) Short Interest Update

iQSTEL Inc. (NASDAQ:IQST) was the recipient of a large increase in short interest during the month of 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 shares of the stock are short sold. Based on an average daily trading volume, of 48,404 shares, the days-to-cover ratio is currently 2.5 days.

iQSTEL Stock Down 2.4%

IQST stock opened at $1.61 on Friday. iQSTEL has a 52-week low of $1.48 and a 52-week high of $18.68. The stock’s fifty day simple moving average is $1.87 and its 200-day simple moving average is $3.40. The stock has a market capitalization of $8.16 million and a price-to-earnings ratio of -0.85.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Cetera Investment Advisers purchased a new position in shares of iQSTEL in the 2nd quarter worth $148,000. Geode Capital Management LLC purchased a new position in shares of iQSTEL in the 2nd quarter worth $288,000. Finally, DRW Securities LLC raised its position in shares of iQSTEL by 74.2% in the 4th quarter. DRW Securities LLC now owns 32,001 shares of the company’s stock worth $93,000 after buying an additional 13,628 shares during the period.

Wall Street Analysts Forecast Growth

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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.00.

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.