FY2022 EPS Estimates for KORE Group Holdings, Inc. Cut by Analyst (NYSE:KORE)

KORE Group Holdings, Inc. (NYSE:KOREGet Rating) – Investment analysts at Northland Capmk decreased their FY2022 earnings per share estimates for shares of KORE Group in a research note issued to investors on Tuesday, November 15th. Northland Capmk analyst M. Latimore now expects that the company will earn ($0.56) per share for the year, down from their prior estimate of ($0.45). The consensus estimate for KORE Group’s current full-year earnings is ($0.46) per share. Northland Capmk also issued estimates for KORE Group’s Q4 2022 earnings at ($0.09) EPS, Q1 2023 earnings at ($0.09) EPS, Q2 2023 earnings at ($0.09) EPS, Q3 2023 earnings at ($0.08) EPS and FY2023 earnings at ($0.32) EPS.

KORE has been the subject of several other reports. Cowen lowered their price objective on KORE Group from $12.50 to $9.00 and set an “outperform” rating for the company in a research report on Friday, August 12th. Cowen lowered their price objective on KORE Group to $6.50 in a research report on Thursday. Morgan Stanley lowered their price objective on KORE Group from $3.50 to $2.20 and set an “equal weight” rating for the company in a research report on Tuesday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on KORE Group from $5.00 to $4.00 in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, KORE Group currently has an average rating of “Moderate Buy” and a consensus price target of $6.94.

KORE Group Stock Down 4.1 %

Shares of NYSE:KORE opened at $2.34 on Friday. The firm has a market cap of $178.40 million, a P/E ratio of -3.66 and a beta of 2.02. The company has a quick ratio of 2.11, a current ratio of 2.26 and a debt-to-equity ratio of 1.65. KORE Group has a 12-month low of $1.91 and a 12-month high of $7.69. The business has a fifty day simple moving average of $2.46 and a 200 day simple moving average of $3.06.

Hedge Funds Weigh In On KORE Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of KORE Group by 4.7% in the 1st quarter. BlackRock Inc. now owns 65,390 shares of the company’s stock worth $392,000 after buying an additional 2,951 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of KORE Group by 53.2% in the 1st quarter. Bank of America Corp DE now owns 9,364 shares of the company’s stock worth $56,000 after purchasing an additional 3,250 shares during the period. Mirabella Financial Services LLP raised its holdings in shares of KORE Group by 32.5% in the 1st quarter. Mirabella Financial Services LLP now owns 13,308 shares of the company’s stock worth $80,000 after purchasing an additional 3,265 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of KORE Group by 28.0% in the 1st quarter. JPMorgan Chase & Co. now owns 17,415 shares of the company’s stock worth $104,000 after purchasing an additional 3,805 shares during the period. Finally, Strs Ohio bought a new stake in shares of KORE Group in the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 53.72% of the company’s stock.

About KORE Group

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KORE Group Holdings, Inc provides Internet of Things (IoT) services and solutions worldwide. It offers connectivity, location-based, device solutions, and managed and professional services that are used in the development and support of IoT technology for the Machine-to-Machine market. The company provides Connectivity-as-a-Service; IoT solutions and analytics to fleet tracking companies; and asset monitoring, communications, and industrial IoT services.

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