KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Large Increase in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 504,300 shares, an increase of 10.3% from the September 30th total of 457,400 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 68,500 shares, the days-to-cover ratio is currently 7.4 days.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. B. Riley initiated coverage on shares of KORU Medical Systems in a research report on Thursday, July 25th. They set a “buy” rating and a $4.00 price target for the company. Piper Sandler raised their price objective on KORU Medical Systems from $2.50 to $3.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

Hedge Funds Weigh In On KORU Medical Systems

A number of institutional investors have recently bought and sold shares of the stock. Aaron Wealth Advisors LLC purchased a new position in KORU Medical Systems during the second quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC acquired a new stake in KORU Medical Systems during the second quarter valued at $28,000. Legato Capital Management LLC acquired a new position in KORU Medical Systems in the 2nd quarter worth about $35,000. Virtu Financial LLC purchased a new stake in shares of KORU Medical Systems during the 1st quarter worth about $63,000. Finally, Advisor Resource Council bought a new stake in shares of KORU Medical Systems in the 1st quarter valued at approximately $63,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Price Performance

NASDAQ:KRMD traded up $0.29 during mid-day trading on Thursday, reaching $2.92. 51,234 shares of the stock were exchanged, compared to its average volume of 117,726. The company has a current ratio of 3.77, a quick ratio of 3.27 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.41. KORU Medical Systems has a 1-year low of $1.98 and a 1-year high of $3.09. The firm has a market capitalization of $133.90 million, a PE ratio of -10.43 and a beta of 0.42.

KORU Medical Systems (NASDAQ:KRMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $8.43 million during the quarter, compared to analysts’ expectations of $7.52 million. KORU Medical Systems had a negative net margin of 38.16% and a negative return on equity of 20.82%. During the same period last year, the firm posted ($0.05) earnings per share. Research analysts expect that KORU Medical Systems will post -0.13 earnings per share for the current fiscal year.

KORU Medical Systems Company Profile

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.