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

KORE Group Holdings, Inc. (NYSE:KORE) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 17,700 shares, a decline of 21.3% from the November 30th total of 22,500 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 35,600 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of KORE Group

A hedge fund recently raised its stake in KORE Group stock. Renaissance Technologies LLC lifted its stake in shares of KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the period. Renaissance Technologies LLC owned about 0.57% of KORE Group worth $40,000 as of its most recent filing with the SEC. 57.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

KORE Group Stock Up 18.4 %

KORE Group stock traded up $0.50 during midday trading on Tuesday, hitting $3.22. 1,435,417 shares of the stock were exchanged, compared to its average volume of 68,700. The company has a debt-to-equity ratio of 13.25, a current ratio of 1.30 and a quick ratio of 1.18. The company has a 50 day moving average price of $1.77 and a two-hundred day moving average price of $2.14. The firm has a market cap of $54.77 million, a P/E ratio of -0.46 and a beta of 2.33. KORE Group has a 1 year low of $1.10 and a 1 year high of $6.45.

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.