Short Interest in KORU Medical Systems, Inc. (NASDAQ:KRMD) Declines By 12.6%

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 372,600 shares, a decline of 12.6% from the December 15th total of 426,400 shares. Based on an average trading volume of 67,100 shares, the days-to-cover ratio is currently 5.6 days. Currently, 0.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KRMD. Canaccord Genuity Group raised their price objective on KORU Medical Systems from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Craig Hallum raised their price target on KORU Medical Systems from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday. Lake Street Capital boosted their price objective on shares of KORU Medical Systems from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler raised their target price on shares of KORU Medical Systems from $3.00 to $3.50 and gave the company an “overweight” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, KORU Medical Systems presently has an average rating of “Buy” and a consensus target price of $4.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KRMD. XTX Topco Ltd acquired a new stake in shares of KORU Medical Systems during the 3rd quarter worth about $34,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of KORU Medical Systems by 77.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock valued at $168,000 after buying an additional 26,860 shares during the period. Geode Capital Management LLC boosted its position in KORU Medical Systems by 6.5% during the third quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock worth $1,262,000 after acquiring an additional 28,323 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in KORU Medical Systems in the 2nd quarter worth approximately $107,000. Finally, Empire Financial Management Company LLC acquired a new position in KORU Medical Systems in the 3rd quarter valued at $259,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

KORU Medical Systems Stock Performance

NASDAQ KRMD opened at $4.09 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.99 and a debt-to-equity ratio of 0.01. KORU Medical Systems has a fifty-two week low of $1.98 and a fifty-two week high of $4.60. The business has a fifty day moving average of $3.82 and a 200-day moving average of $2.97. The stock has a market cap of $187.49 million, a price-to-earnings ratio of -16.36 and a beta of 0.45.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.