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

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. One68 Global Capital LLC bought a new stake in KORE Group in the fourth quarter worth about $59,000. Citadel Advisors LLC bought a new position in shares of KORE Group during the 3rd quarter valued at about $30,000. State Street Corp raised its holdings in shares of KORE Group by 23.2% in the 4th quarter. State Street Corp now owns 29,217 shares of the company’s stock worth $123,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of KORE Group by 14.5% in the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock worth $150,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors own 57.45% of the company’s stock.

KORE Group Stock Up 0.1%

KORE traded up $0.01 during trading on Monday, reaching $9.00. The stock had a trading volume of 42,031 shares, compared to its average volume of 123,069. The firm has a market capitalization of $157.77 million, a price-to-earnings ratio of -2.51 and a beta of 1.58. KORE Group has a 1-year low of $2.00 and a 1-year high of $9.02. The stock has a 50 day moving average of $6.65 and a two-hundred day moving average of $4.77.

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.