KORE Group (NYSE:KORE) Stock Price Up 0.2% – Time to Buy?

Shares of KORE Group Holdings, Inc. (NYSE:KORE) shot up 0.2% during trading on Thursday . The stock traded as high as $9.00 and last traded at $8.97. 195,805 shares were traded during mid-day trading, a decline of 4% from the average session volume of 203,139 shares. The stock had previously closed at $8.95.

Analyst Ratings Changes

KORE has been the topic of a number of research reports. Wall Street Zen upgraded shares of KORE Group to a “hold” rating in a report on Saturday, January 17th. TD Cowen lifted their target price on KORE Group from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of KORE Group in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, KORE Group currently has a consensus rating of “Reduce” and an average target price of $4.00.

KORE Group Stock Performance

The business’s fifty day moving average price is $5.26 and its two-hundred day moving average price is $4.00. The stock has a market capitalization of $157.33 million, a P/E ratio of -2.51 and a beta of 1.58.

Institutional Investors Weigh In On KORE Group

Several institutional investors have recently modified their holdings of KORE. Renaissance Technologies LLC raised its holdings in KORE Group by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock valued at $150,000 after buying an additional 4,500 shares during the period. State Street Corp boosted its stake in KORE Group by 23.2% during the fourth quarter. State Street Corp now owns 29,217 shares of the company’s stock worth $123,000 after buying an additional 5,500 shares during the period. Citadel Advisors LLC bought a new position in KORE Group during the third quarter valued at $30,000. Finally, One68 Global Capital LLC purchased a new stake in shares of KORE Group in the fourth quarter valued at $59,000. 57.45% of the stock is owned by 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.