KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Down 21.3% in December

KORE Group Holdings, Inc. (NYSE:KORE) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 17,700 shares, a decline of 21.3% from the November 30th total of 22,500 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 35,600 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC boosted its stake in shares of KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of KORE Group worth $40,000 at the end of the most recent quarter. Institutional investors and hedge funds own 57.45% of the company’s stock.

Analyst Ratings Changes

Separately, TD Cowen increased their price objective on KORE Group from $2.00 to $2.50 and gave the company a “hold” rating in a report on Wednesday, November 20th.

KORE Group Stock Performance

Shares of NYSE KORE opened at $2.44 on Friday. The company has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $2.15. The stock has a market cap of $41.50 million, a price-to-earnings ratio of -0.35 and a beta of 2.33. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 13.25. KORE Group has a 12 month low of $1.10 and a 12 month high of $6.45.

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.