KORE Group Holdings, Inc. (NYSE:KORE) Sees Significant Increase in Short Interest

KORE Group Holdings, Inc. (NYSE:KORE) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 213,991 shares, an increase of 39.2% from the February 26th total of 153,705 shares. Based on an average daily trading volume, of 136,318 shares, the short-interest ratio is presently 1.6 days. Approximately 1.8% of the shares of the company are short sold.

Analysts Set New Price Targets

KORE has been the subject of a number of research analyst reports. Wall Street Zen upgraded KORE Group to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of KORE Group in a research note on Friday. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, KORE Group has a consensus rating of “Reduce” and an average price target of $4.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in KORE Group in the 3rd quarter worth about $30,000. One68 Global Capital LLC bought a new stake in shares of KORE Group during the fourth quarter valued at approximately $59,000. State Street Corp boosted its position in shares of 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. Finally, Renaissance Technologies LLC boosted its position in shares of KORE Group by 14.5% during the fourth quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock worth $150,000 after buying an additional 4,500 shares during the period. 57.45% of the stock is owned by institutional investors and hedge funds.

KORE Group Stock Performance

Shares of KORE opened at $9.00 on Tuesday. KORE Group has a 1 year low of $2.00 and a 1 year high of $9.02. The company has a market cap of $157.77 million, a price-to-earnings ratio of -2.51 and a beta of 1.58. The firm has a fifty day moving average of $6.74 and a 200-day moving average of $4.82.

KORE Group Company Profile

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.