KORE Group (NYSE:KORE) Trading Down 0.7% – Time to Sell?

KORE Group Holdings, Inc. (NYSE:KORE) fell 0.7% during trading on Friday . The company traded as low as $4.31 and last traded at $4.37. 6,667 shares traded hands during trading, a decline of 83% from the average session volume of 38,575 shares. The stock had previously closed at $4.40.

Analyst Ratings Changes

KORE has been the subject of a number of research reports. TD Cowen upped their price objective on shares of KORE Group from $3.00 to $5.00 and gave the company 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 note on Monday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, KORE Group currently has a consensus rating of “Reduce” and a consensus price target of $4.00.

KORE Group Trading Down 0.7%

The business’s fifty day simple moving average is $4.09 and its 200-day simple moving average is $3.03. The firm has a market cap of $76.65 million, a P/E ratio of -1.22 and a beta of 1.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KORE Group stock. Diversified Trust Co bought a new stake in shares of KORE Group Holdings, Inc. (NYSE:KORE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 250,000 shares of the company’s stock, valued at approximately $598,000. Diversified Trust Co owned 1.46% of KORE Group as of its most recent filing with the Securities and Exchange Commission (SEC). 57.45% of the stock is owned by hedge funds and other institutional investors.

About KORE Group

KORE Group (NYSE: KORE) is a global provider of Internet of Things (IoT) connectivity and managed services, helping enterprises deploy, secure and scale their IoT applications. The company offers a comprehensive suite of solutions that includes cellular, satellite and Low-Power Wide-Area Network (LPWAN) connectivity, multi-network SIM management, eSIM provisioning and cloud-based IoT platforms. Through its unified approach, KORE enables businesses to streamline the complexities of device onboarding, monitoring and lifecycle management across diverse geographies.

Founded in 2002 and headquartered in Atlanta, Georgia, KORE has grown through a combination of organic innovation and strategic acquisitions to become one of the world’s largest independent IoT service providers.