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

KORE Group Holdings, Inc. (NYSE:KOREGet Free Report) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 435,400 shares, a growth of 2,359.9% from the December 15th total of 17,700 shares. Based on an average daily volume of 196,400 shares, the short-interest ratio is currently 2.2 days. Currently, 8.7% of the shares of the stock are short sold.

KORE Group Stock Performance

Shares of NYSE:KORE opened at $1.91 on Tuesday. The firm has a fifty day simple moving average of $1.84 and a two-hundred day simple moving average of $2.12. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 13.25. KORE Group has a 52 week low of $1.10 and a 52 week high of $5.45. The stock has a market capitalization of $32.49 million, a P/E ratio of -0.27 and a beta of 1.93.

Analysts Set New Price Targets

Separately, TD Cowen upped their price target on shares of KORE Group from $2.00 to $2.50 and gave the company a “hold” rating in a research report on Wednesday, November 20th.

Check Out Our Latest Stock Report on KORE Group

Institutional Inflows and Outflows

A hedge fund recently raised its stake in KORE Group stock. Renaissance Technologies LLC boosted its holdings in shares of KORE Group Holdings, Inc. (NYSE:KOREFree Report) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,200 shares of the company’s stock after buying an additional 6,300 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of KORE Group worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 57.45% of the company’s stock.

KORE Group Company Profile

(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.

See Also

Receive News & Ratings for KORE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KORE Group and related companies with MarketBeat.com's FREE daily email newsletter.