KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Update

KORE Group Holdings, Inc. (NYSE:KORE) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 435,400 shares, an increase of 2,359.9% from the December 31st total of 17,700 shares. Based on an average daily volume of 196,400 shares, the days-to-cover ratio is presently 2.2 days. Currently, 8.7% of the company’s stock are sold short.

KORE Group Stock Performance

Shares of NYSE KORE opened at $2.26 on Thursday. The company has a market cap of $38.44 million, a PE ratio of -0.32 and a beta of 1.93. The business has a 50-day simple moving average of $1.89 and a two-hundred day simple moving average of $2.17. KORE Group has a fifty-two week low of $1.10 and a fifty-two week high of $5.45.

Institutional Investors Weigh In On KORE Group

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC grew its holdings in KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,200 shares of the company’s stock after acquiring an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned 0.57% of KORE Group worth $40,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 57.45% of the company’s stock.

Analysts Set New Price Targets

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

KORE Group Company Profile

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.