iQSTEL Inc. (NASDAQ:IQST) Sees Significant Decrease in Short Interest
by Tristan Rich · The Markets DailyiQSTEL Inc. (NASDAQ:IQST – Get Free Report) was the recipient of a significant decrease in short interest in February. As of February 13th, there was short interest totaling 138,599 shares, a decrease of 30.8% from the January 29th total of 200,212 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average daily volume of 101,585 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 101,585 shares, the short-interest ratio is currently 1.4 days. Approximately 3.1% of the shares of the company are sold short.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iQSTEL in a report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.00.
iQSTEL Trading Up 19.3%
Shares of NASDAQ IQST traded up $0.38 on Friday, reaching $2.35. 141,565 shares of the company traded hands, compared to its average volume of 76,630. The stock has a market capitalization of $10.79 million and a PE ratio of -1.57. iQSTEL has a fifty-two week low of $1.80 and a fifty-two week high of $18.68. The company has a 50 day moving average of $2.63 and a 200 day moving average of $4.55.
Hedge Funds Weigh In On iQSTEL
A number of hedge funds have recently made changes to their positions in the stock. DRW Securities LLC grew its stake in shares of iQSTEL by 74.2% during 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 during the period. Cetera Investment Advisers purchased a new position in shares of iQSTEL in the 2nd quarter worth $148,000. Finally, Geode Capital Management LLC acquired a new position in iQSTEL in the second quarter valued at $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.