KORE Group (NYSE:KORE) Shares Down 1.9% – Time to Sell?

KORE Group Holdings, Inc. (NYSE:KORE) was down 1.9% during trading on Thursday . The company traded as low as $4.10 and last traded at $4.12. Approximately 55,726 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 66,753 shares. The stock had previously closed at $4.20.

Wall Street Analyst Weigh In

Several research analysts recently commented on KORE shares. TD Cowen raised their price target on shares of KORE Group from $3.00 to $5.00 and gave the stock a “hold” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KORE Group in a research report on Monday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $4.00.

KORE Group Stock Performance

The company has a market capitalization of $72.26 million, a P/E ratio of -1.15 and a beta of 1.72. The company’s fifty day simple moving average is $3.60 and its 200-day simple moving average is $2.81.

Institutional Trading of KORE Group

A number of hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in KORE Group during the 1st quarter valued at $29,000. Citadel Advisors LLC purchased a new stake in shares of KORE Group during the 3rd quarter worth $30,000. Finally, Diversified Trust Co purchased a new stake in shares of KORE Group during the 2nd quarter worth $598,000. Hedge funds and other 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.