KORE Group Stock Scheduled to Reverse Split on Monday, July 1st (NYSE:KORE)

KORE Group Holdings, Inc. (NYSE:KORE)’s stock is going to reverse split on the morning of 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 market closes on Monday, July 1st.

KORE Group Stock Performance

KORE opened at $0.44 on Thursday. The firm’s 50-day moving average price is $0.70 and its 200-day moving average price is $0.79. The company has a market cap of $36.36 million, a P/E ratio of -0.23 and a beta of 2.59. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 13.25. KORE Group has a 52-week low of $0.28 and a 52-week high of $1.59.

KORE Group (NYSE:KORE) last released its earnings results on Wednesday, May 15th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $73.66 million. KORE Group had a negative return on equity of 123.65% and a negative net margin of 57.97%. As a group, equities analysts anticipate that KORE Group will post -0.45 EPS for the current fiscal year.

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 report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2.94.

Institutional Trading of KORE Group

An institutional investor recently bought a new position in KORE Group stock. Worth Venture Partners LLC bought a new position in shares of KORE Group Holdings, Inc. (NYSE:KORE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 37,038 shares of the company’s stock, valued at approximately $36,000. Institutional investors and hedge funds own 57.45% of the company’s stock.

About KORE Group

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.