KORE Group (NYSE:KORE) Stock Price Expected to Rise, TD Cowen Analyst Says

KORE Group (NYSE:KORE) had its price objective raised by analysts at TD Cowen from $3.00 to $5.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 21.39% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KORE Group in a research report on Tuesday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $4.00.

KORE Group Trading Up 1.7%

KORE Group stock traded up $0.07 on Thursday, reaching $4.12. 139,634 shares of the stock were exchanged, compared to its average volume of 48,223. The stock has a market cap of $72.05 million, a PE ratio of -1.05 and a beta of 1.74. KORE Group has a twelve month low of $1.10 and a twelve month high of $4.88. The firm has a fifty day moving average price of $3.00 and a two-hundred day moving average price of $2.62.

KORE Group (NYSE:KORE) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.15). The firm had revenue of $68.69 million for the quarter, compared to the consensus estimate of $72.70 million. Equities analysts anticipate that KORE Group will post -5.47 EPS for the current fiscal year.

Institutional Investors Weigh In On KORE Group

A number of institutional investors have recently made changes to their positions in KORE. XTX Topco Ltd bought a new position in KORE Group in the 1st quarter worth $29,000. Barings LLC purchased a new position in shares of KORE Group during the 1st quarter worth approximately $122,000. Finally, Diversified Trust Co bought a new position in shares of KORE Group in the 2nd quarter worth approximately $598,000. Hedge funds and other institutional investors own 57.45% of the company’s stock.

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.