KORE Group Stock to Reverse Split on Monday, July 1st (NYSE:KORE)

Shares of KORE Group Holdings, Inc. (NYSE:KORE) are scheduled to reverse split on Monday, July 1st. The 1-5 reverse split was announced on Monday, July 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, July 1st.

KORE Group Trading Up 3.7 %

NYSE KORE opened at $0.44 on Thursday. KORE Group has a 12 month low of $0.28 and a 12 month high of $1.59. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 13.25. The stock’s fifty day moving average price is $0.70 and its 200-day moving average price is $0.79. The stock has a market cap of $36.36 million, a P/E ratio of -0.23 and a beta of 2.59.

KORE Group (NYSE:KORE) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $75.98 million during the quarter, compared to the consensus estimate of $73.66 million. KORE Group had a negative return on equity of 123.65% and a negative net margin of 57.97%. As a group, equities analysts forecast that KORE Group will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Mkm restated a “buy” rating and issued a $3.50 price objective on shares of KORE Group in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2.94.

Institutional Trading of KORE Group

An institutional investor recently bought a new position in KORE Group stock. Worth Venture Partners LLC bought a new position in KORE Group Holdings, Inc. (NYSE:KORE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 37,038 shares of the company’s stock, valued at approximately $36,000. 57.45% of the stock is currently owned by institutional investors and hedge funds.

About KORE Group

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.