KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Up 2,359.9% in December

KORE Group Holdings, Inc. (NYSE:KORE) saw 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 trading volume of 196,400 shares, the days-to-cover ratio is currently 2.2 days.

KORE Group Trading Down 7.2 %

Shares of KORE traded down $0.14 during trading hours on Monday, hitting $1.80. The company had a trading volume of 31,842 shares, compared to its average volume of 176,883. The firm has a market cap of $30.61 million, a P/E ratio of -0.25 and a beta of 1.93. The stock’s 50 day moving average price is $1.85 and its 200 day moving average price is $2.12. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 13.25. KORE Group has a 52-week low of $1.10 and a 52-week high of $5.45.

Analysts Set New Price Targets

Separately, TD Cowen raised their target price on KORE Group from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Wednesday, November 20th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC lifted its stake in KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned about 0.57% of KORE Group worth $40,000 as of its most recent filing with the Securities & Exchange Commission. 57.45% of the stock is owned by institutional investors and hedge funds.

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.