KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Down 48.8% in January

KORE Group Holdings, Inc. (NYSE:KORE) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 177,609 shares, a decline of 48.8% from the January 15th total of 347,013 shares. Based on an average daily volume of 53,491 shares, the short-interest ratio is currently 3.3 days. Approximately 1.5% of the shares of the company are sold short. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 53,491 shares, the short-interest ratio is currently 3.3 days.

KORE Group Stock Performance

NYSE KORE traded up $0.11 during trading hours on Thursday, hitting $5.03. The company had a trading volume of 8,595 shares, compared to its average volume of 49,610. The firm has a market capitalization of $88.14 million, a price-to-earnings ratio of -1.40 and a beta of 1.73. KORE Group has a 52 week low of $2.00 and a 52 week high of $5.29. The firm has a 50 day simple moving average of $4.64 and a 200 day simple moving average of $3.56.

Analyst Upgrades and Downgrades

KORE has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of KORE Group in a research report on Monday, December 29th. 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. Finally, Wall Street Zen raised KORE Group to a “hold” rating in a report on Saturday, January 17th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, KORE Group currently has a consensus rating of “Reduce” and a consensus price target of $4.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in KORE Group stock. Citadel Advisors LLC bought a new stake in KORE Group Holdings, Inc. (NYSE:KORE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,551 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned about 0.07% of KORE Group as of its most recent SEC filing. Institutional investors and hedge funds own 57.45% of the company’s stock.

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.