KORE Group Holdings, Inc. (NYSE:KORE – Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 70,600 shares, a drop of 7.1% from the August 15th total of 76,000 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 54,800 shares, the short-interest ratio is presently 1.3 days.
Institutional Investors Weigh In On KORE Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Worth Venture Partners LLC acquired a new position in shares of KORE Group during the 4th quarter worth about $36,000. Courier Capital LLC acquired a new stake in shares of KORE Group in the 2nd quarter valued at approximately $73,000. Finally, Renaissance Technologies LLC boosted its stake in KORE Group by 7.2% during the 2nd quarter. Renaissance Technologies LLC now owns 94,200 shares of the company’s stock worth $40,000 after acquiring an additional 6,300 shares during the last quarter. Institutional investors own 57.45% of the company’s stock.
KORE Group Trading Up 7.8 %
Shares of KORE traded up $0.16 on Wednesday, reaching $2.22. 22,104 shares of the company’s stock were exchanged, compared to its average volume of 31,637. The business has a 50 day moving average price of $2.48 and a two-hundred day moving average price of $3.09. KORE Group has a 12 month low of $1.30 and a 12 month high of $6.45. The stock has a market capitalization of $36.94 million, a P/E ratio of -0.22 and a beta of 2.48. The company has a current ratio of 1.36, a quick ratio of 1.24 and a debt-to-equity ratio of 13.25.
Analyst Ratings Changes
Separately, TD Cowen downgraded KORE Group from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Friday, August 23rd.
View Our Latest Report on KORE
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.
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