KORE Group (NYSE:KORE) Stock Price Down 0.4% – Should You Sell?

KORE Group Holdings, Inc. (NYSE:KORE)’s stock price was down 0.4% during trading on Monday . The stock traded as low as $2.26 and last traded at $2.30. Approximately 9,658 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 75,952 shares. The stock had previously closed at $2.31.

Analysts Set New Price Targets

Separately, TD Securities upped their price objective on shares of KORE Group from $2.50 to $3.00 and gave the company a “hold” rating in a report on Thursday, May 1st.

KORE Group Stock Down 0.4%

The company’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $2.22. The stock has a market capitalization of $39.47 million, a price-to-earnings ratio of -0.33 and a beta of 1.76.

KORE Group (NYSE:KORE) last announced its earnings results on Wednesday, April 30th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.78). The business had revenue of $73.30 million during the quarter, compared to the consensus estimate of $67.50 million. KORE Group had a negative net margin of 47.33% and a negative return on equity of 492.16%. As a group, analysts anticipate that KORE Group Holdings, Inc. will post -5.47 earnings per share for the current year.

Institutional Investors Weigh In On KORE Group

A number of institutional investors have recently modified their holdings of KORE. Vectors Research Management LLC bought a new stake in shares of KORE Group in the fourth quarter valued at about $111,000. XTX Topco Ltd bought a new stake in shares of KORE Group in the first quarter valued at about $29,000. Finally, Barings LLC bought a new stake in shares of KORE Group in the first quarter valued at about $122,000. Institutional investors own 57.45% of the company’s stock.

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.