KORE Group Holdings, Inc. (NYSE:KORE) Sees Significant Decrease in Short Interest

KORE Group Holdings, Inc. (NYSE:KORE) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 68,600 shares, a drop of 19.8% from the May 31st total of 85,500 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 38,600 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Ratings Changes

Separately, Roth Mkm restated a “buy” rating and set a $3.50 price target on shares of KORE Group in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, KORE Group currently has a consensus rating of “Moderate Buy” and an average target price of $2.94.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KORE Group stock. Worth Venture Partners LLC acquired a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,038 shares of the company’s stock, valued at approximately $36,000. 57.45% of the stock is owned by institutional investors.

KORE Group Price Performance

KORE Group stock opened at $0.42 on Friday. The company has a debt-to-equity ratio of 13.25, a quick ratio of 1.26 and a current ratio of 1.37. The business has a 50 day simple moving average of $0.68 and a 200-day simple moving average of $0.78. KORE Group has a 12 month low of $0.28 and a 12 month high of $1.59.

KORE Group’s stock is going to reverse split on Monday, July 1st. The 1-5 reverse split was announced on Monday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Monday, July 1st.

KORE Group (NYSE:KORE) last issued its earnings results on Wednesday, May 15th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $75.98 million during the quarter, compared to analyst estimates of $73.66 million. KORE Group had a negative net margin of 57.97% and a negative return on equity of 123.65%. Analysts anticipate that KORE Group will post -0.45 EPS for the current year.

KORE Group Company Profile

KORE Group Holdings, Inc provides Internet of Things (IoT) services and solutions worldwide. It offers connectivity and location-based services, device solutions, and managed and professional services that are used in the development and support of IoT technology for the business market. The company's products include IoT connectivity-as-a-service; connectivity enablement-as-a-service; device management services; and security location based services.