KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Large Growth in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,050,000 shares, an increase of 5.6% from the March 15th total of 994,500 shares. Based on an average trading volume of 95,500 shares, the days-to-cover ratio is presently 11.0 days.

Institutional Trading of KORU Medical Systems

Several large investors have recently bought and sold shares of KRMD. Advisor Group Holdings Inc. acquired a new stake in KORU Medical Systems in the first quarter valued at approximately $64,000. First Light Asset Management LLC grew its position in KORU Medical Systems by 10.6% in the first quarter. First Light Asset Management LLC now owns 6,099,820 shares of the company’s stock valued at $17,445,000 after acquiring an additional 585,714 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in KORU Medical Systems in the first quarter valued at approximately $62,000. Meros Investment Management LP grew its position in KORU Medical Systems by 7.7% in the first quarter. Meros Investment Management LP now owns 294,286 shares of the company’s stock valued at $841,000 after acquiring an additional 21,157 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of KORU Medical Systems by 9.2% during the 1st quarter. State Street Corp now owns 114,690 shares of the company’s stock valued at $328,000 after buying an additional 9,638 shares during the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.

KORU Medical Systems Stock Up 3.4 %

KRMD opened at $2.15 on Wednesday. The firm has a 50 day moving average price of $2.19 and a 200 day moving average price of $2.27. The company has a market cap of $98.28 million, a PE ratio of -7.41 and a beta of 0.53. KORU Medical Systems has a 1 year low of $1.98 and a 1 year high of $4.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.77 and a current ratio of 4.55.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. KORU Medical Systems had a negative net margin of 48.18% and a negative return on equity of 27.82%. The company had revenue of $7.19 million during the quarter, compared to the consensus estimate of $7.01 million. Sell-side analysts expect that KORU Medical Systems will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, B. Riley reaffirmed a “buy” rating and set a $4.00 price objective on shares of KORU Medical Systems in a research note on Thursday, March 14th.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.