Roth Mkm Reiterates Buy Rating for KORE Group (NYSE:KORE)

KORE Group (NYSE:KORE)‘s stock had its “buy” rating reiterated by stock analysts at Roth Mkm in a report issued on Friday, Benzinga reports. They currently have a $3.50 price target on the stock. Roth Mkm’s target price would indicate a potential upside of 382.76% from the company’s current price.

KORE Group Price Performance

Shares of NYSE KORE opened at $0.73 on Friday. The stock has a market capitalization of $62.86 million, a PE ratio of -0.29 and a beta of 2.81. The company has a debt-to-equity ratio of 5.80, a current ratio of 1.47 and a quick ratio of 1.31. The business has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $0.73. KORE Group has a fifty-two week low of $0.32 and a fifty-two week high of $1.76.

Hedge Funds Weigh In On KORE Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KORE. JPMorgan Chase & Co. raised its holdings in KORE Group by 28.0% in the 1st quarter. JPMorgan Chase & Co. now owns 17,415 shares of the company’s stock valued at $104,000 after acquiring an additional 3,805 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of KORE Group in the 1st quarter valued at $67,000. BlackRock Inc. increased 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 valued at $392,000 after purchasing an additional 2,951 shares during the last quarter. State Street Corp increased its stake in shares of KORE Group by 241.7% in the 1st quarter. State Street Corp now owns 52,964 shares of the company’s stock valued at $318,000 after purchasing an additional 37,464 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of KORE Group by 50.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the company’s stock valued at $175,000 after purchasing an additional 9,811 shares during the last quarter. 57.45% of the stock is owned by institutional investors and hedge funds.

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 and applications for the Machine-to-Machine market.