Short Interest in iQSTEL Inc. (NASDAQ:IQST) Increases By 90.3%

iQSTEL Inc. (NASDAQ:IQST) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 710,721 shares, an increase of 90.3% from the April 15th total of 373,460 shares. Based on an average daily volume of 923,103 shares, the short-interest ratio is currently 0.8 days. Approximately 14.2% of the shares of the stock are sold short.

iQSTEL Price Performance

Shares of iQSTEL stock traded up $0.05 during trading on Monday, hitting $1.33. The company’s stock had a trading volume of 120,569 shares, compared to its average volume of 674,664. iQSTEL has a 52 week low of $1.21 and a 52 week high of $14.45. The stock has a market cap of $6.74 million and a price-to-earnings ratio of -0.70. The stock has a 50-day moving average price of $1.65 and a two-hundred day moving average price of $2.74.

Institutional Trading of iQSTEL

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC bought a new stake in iQSTEL during the second quarter valued at $288,000. Cetera Investment Advisers bought a new stake in iQSTEL during the second quarter valued at $148,000. Finally, DRW Securities LLC boosted its position in 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 during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, iQSTEL 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.