Short Interest in KORE Group Holdings, Inc. (NYSE:KORE) Drops By 17.6%

Posted by Xavier Holt on Dec 15th, 2024

KORE Group Holdings, Inc. (NYSE:KORE – Get Free Report) was the target of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 22,500 shares, a decline of 17.6% from the November 15th total of 27,300 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 12,400 shares, the short-interest ratio is currently 1.8 days.

Analysts Set New Price Targets

Separately, TD Cowen boosted their price objective on KORE Group from $2.00 to $2.50 and gave the stock a “hold” rating in a research note on Wednesday, November 20th.

View Our Latest Analysis on KORE

Institutional Inflows and Outflows

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC raised its holdings in KORE Group Holdings, Inc. (NYSE:KORE – Free Report) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of KORE Group worth $40,000 at the end of the most recent quarter. Institutional investors own 57.45% of the company’s stock.

KORE Group Stock Down 4.9 %

Shares of KORE stock traded down $0.06 during trading hours on Friday, hitting $1.17. 113,118 shares of the company were exchanged, compared to its average volume of 27,857. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 13.25. The company has a market capitalization of $19.90 million, a PE ratio of -0.17 and a beta of 2.33. The business has a 50 day moving average of $1.86 and a two-hundred day moving average of $2.26. KORE Group has a 52 week low of $1.14 and a 52 week high of $6.45.

About KORE Group

(Get Free Report)

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.