KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Down 17.6% in November

KORE Group Holdings, Inc. (NYSE:KORE) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 22,500 shares, a drop of 17.6% from the November 15th total of 27,300 shares. Based on an average daily volume of 12,400 shares, the short-interest ratio is presently 1.8 days. Approximately 0.5% of the company’s stock are short sold.

KORE Group Price Performance

KORE traded down $0.06 during trading on Friday, reaching $1.17. The stock had a trading volume of 113,118 shares, compared to its average volume of 27,857. KORE Group has a 1-year low of $1.14 and a 1-year high of $6.45. The stock has a 50 day moving average of $1.86 and a two-hundred day moving average of $2.27. The firm has a market capitalization of $19.90 million, a price-to-earnings ratio of -0.17 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.

Wall Street Analysts Forecast Growth

Separately, TD Cowen lifted their target price on KORE Group from $2.00 to $2.50 and gave the company a “hold” rating in a research note 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 raised its position in shares of KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned 0.57% of KORE Group worth $40,000 at the end of the most recent quarter. 57.45% of the stock is currently owned by hedge funds and other institutional investors.

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.