KORE Group Holdings, Inc. (NYSE:KORE – Get Rating) was the recipient of a large increase in short interest in December. As of December 30th, there was short interest totalling 487,000 shares, an increase of 29.6% from the December 15th total of 375,700 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 122,300 shares, the short-interest ratio is presently 4.0 days.
Analysts Set New Price Targets
A number of research analysts have issued reports on KORE shares. Morgan Stanley increased their target price on shares of KORE Group from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, December 13th. Cowen decreased their target price on shares of KORE Group to $6.50 in a research report on Thursday, November 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of KORE Group from $5.00 to $4.00 in a research report on Tuesday, November 15th.
KORE Group Stock Performance
NYSE KORE opened at $1.64 on Friday. The company has a current ratio of 2.26, a quick ratio of 2.09 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $125.03 million, a price-to-earnings ratio of -2.56 and a beta of 2.07. The firm’s 50 day simple moving average is $1.90 and its 200 day simple moving average is $2.42. KORE Group has a 1 year low of $1.23 and a 1 year high of $6.52.
Institutional Trading of KORE Group
Several large investors have recently made changes to their positions in the company. State Street Corp boosted its position in KORE Group by 580.0% in the second quarter. State Street Corp now owns 360,156 shares of the company’s stock valued at $1,106,000 after buying an additional 307,192 shares in the last quarter. Northern Trust Corp boosted its position in KORE Group by 400.4% in the second quarter. Northern Trust Corp now owns 282,716 shares of the company’s stock valued at $868,000 after buying an additional 226,219 shares in the last quarter. Vanguard Group Inc. boosted its position in KORE Group by 6.1% in the third quarter. Vanguard Group Inc. now owns 1,400,069 shares of the company’s stock valued at $2,674,000 after buying an additional 80,217 shares in the last quarter. Rhumbline Advisers acquired a new stake in KORE Group in the second quarter valued at approximately $157,000. Finally, Renaissance Technologies LLC acquired a new stake in KORE Group in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 34.88% of the company’s stock.
About KORE Group
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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