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

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

Institutional Trading of KORE Group

A hedge fund recently bought a new stake in KORE Group stock. Worth Venture Partners LLC purchased a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 37,038 shares of the company’s stock, valued at approximately $36,000. 57.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

KORE Group Price Performance

Shares of NYSE KORE opened at $0.42 on Friday. KORE Group has a twelve month low of $0.28 and a twelve month high of $1.59. The company has a debt-to-equity ratio of 13.25, a current ratio of 1.37 and a quick ratio of 1.26. The company’s fifty day moving average is $0.68 and its 200-day moving average is $0.78.

KORE Group’s stock is scheduled 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 closing bell on Monday, July 1st.

KORE Group (NYSE:KORE) last posted its earnings results on Wednesday, May 15th. The company reported ($0.14) earnings per share (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%. On average, equities analysts predict that KORE Group will post -0.45 earnings per share 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.