KORU Medical Systems, Inc. (NASDAQ:KRMD) Short Interest Down 5.2% in May

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a significant drop in short interest in May. As of May 31st, there was short interest totalling 1,280,000 shares, a drop of 5.2% from the May 15th total of 1,350,000 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 152,200 shares, the short-interest ratio is currently 8.4 days.

KORU Medical Systems Stock Performance

Shares of NASDAQ:KRMD opened at $2.23 on Wednesday. The company has a 50 day moving average of $2.20 and a 200 day moving average of $2.21. KORU Medical Systems has a 12 month low of $1.98 and a 12 month high of $4.09. The company has a quick ratio of 3.37, a current ratio of 4.01 and a debt-to-equity ratio of 0.02.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $8.20 million during the quarter, compared to analysts’ expectations of $7.49 million. KORU Medical Systems had a negative net margin of 45.24% and a negative return on equity of 25.10%. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, sell-side analysts expect that KORU Medical Systems will post -0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley reiterated a “buy” rating and issued a $4.00 target price on shares of KORU Medical Systems in a research note on Thursday, March 14th.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in KORU Medical Systems in the 1st quarter worth approximately $63,000. First Light Asset Management LLC grew its stake in KORU Medical Systems by 1.1% in the 1st quarter. First Light Asset Management LLC now owns 5,220,990 shares of the company’s stock worth $12,322,000 after buying an additional 57,253 shares in the last quarter. Archon Capital Management LLC grew its stake in KORU Medical Systems by 6.2% in the 1st quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock worth $9,325,000 after buying an additional 230,517 shares in the last quarter. Vanguard Group Inc. grew its stake in KORU Medical Systems by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock worth $4,630,000 after buying an additional 51,890 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in KORU Medical Systems in the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.