KORE Group Holdings, Inc. (NYSE:KORE – Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 435,400 shares, a growth of 2,359.9% from the December 15th total of 17,700 shares. Currently, 8.7% of the shares of the company are sold short. Based on an average daily trading volume, of 196,400 shares, the days-to-cover ratio is currently 2.2 days.
KORE Group Stock Performance
NYSE KORE opened at $1.88 on Wednesday. The firm has a market cap of $31.98 million, a P/E ratio of -0.27 and a beta of 2.33. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 13.25. The company’s 50 day moving average is $1.84 and its 200-day moving average is $2.12. KORE Group has a 12-month low of $1.10 and a 12-month high of $5.45.
Analyst Ratings Changes
Separately, TD Cowen upped their price target on KORE Group from $2.00 to $2.50 and gave the company a “hold” rating in a research report on Wednesday, November 20th.
Institutional Investors Weigh In On KORE Group
An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC grew its position in shares of KORE Group Holdings, Inc. (NYSE:KORE – Free Report) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of KORE Group worth $40,000 at the end of the most recent quarter. 57.45% of the stock is owned by institutional investors and hedge funds.
About KORE Group
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.
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