KORE Group Holdings, Inc. (NYSE:KORE – Get Free Report) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 60,600 shares, a decline of 14.2% from the August 31st total of 70,600 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 55,400 shares, the short-interest ratio is presently 1.1 days.
Wall Street Analysts Forecast Growth
Separately, TD Cowen downgraded KORE Group from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research report on Friday, August 23rd.
View Our Latest Report on KORE Group
KORE Group Trading Up 4.9 %
KORE Group (NYSE:KORE – Get Free Report) last released its earnings results on Thursday, August 15th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.31). The company had revenue of $67.87 million for the quarter, compared to the consensus estimate of $73.37 million. KORE Group had a negative return on equity of 389.39% and a negative net margin of 74.03%. On average, equities analysts forecast that KORE Group will post -5.64 EPS for the current fiscal year.
Institutional Investors Weigh In On KORE Group
A hedge fund recently bought a new stake in KORE Group stock. Courier Capital LLC bought a new stake in KORE Group Holdings, Inc. (NYSE:KORE – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 172,149 shares of the company’s stock, valued at approximately $73,000. Courier Capital LLC owned about 1.03% of KORE Group as of its most recent filing with the Securities and Exchange Commission. 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.
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