KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Large Decline in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 678,811 shares, a drop of 21.4% from the December 31st total of 864,104 shares. Based on an average trading volume of 148,229 shares, the short-interest ratio is currently 4.6 days. Approximately 1.8% of the shares of the company are sold short. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 148,229 shares, the short-interest ratio is currently 4.6 days.

KORU Medical Systems Stock Down 1.1%

Shares of KORU Medical Systems stock traded down $0.06 on Friday, hitting $5.39. The company had a trading volume of 130,354 shares, compared to its average volume of 128,212. The firm has a market capitalization of $249.66 million, a P/E ratio of -67.38 and a beta of 0.51. KORU Medical Systems has a twelve month low of $1.86 and a twelve month high of $6.61. The stock has a 50-day moving average of $5.74 and a 200-day moving average of $4.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.48 and a quick ratio of 1.92.

Analysts Set New Price Targets

KRMD has been the topic of several analyst reports. Canaccord Genuity Group increased their target price on KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Wall Street Zen raised KORU Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of KORU Medical Systems in a research report on Thursday, January 22nd. Lake Street Capital boosted their price target on KORU Medical Systems from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Craig Hallum reissued a “buy” rating and issued a $7.00 price target on shares of KORU Medical Systems in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.13.

Institutional Investors Weigh In On KORU Medical Systems

Several institutional investors and hedge funds have recently bought and sold shares of KRMD. Cubist Systematic Strategies LLC boosted its holdings in shares of KORU Medical Systems by 927.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 77,280 shares of the company’s stock valued at $196,000 after acquiring an additional 69,758 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in KORU Medical Systems by 189.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company’s stock valued at $617,000 after buying an additional 158,914 shares during the last quarter. Jane Street Group LLC boosted its position in KORU Medical Systems by 136.7% during the 1st quarter. Jane Street Group LLC now owns 163,137 shares of the company’s stock worth $414,000 after buying an additional 94,214 shares during the period. Acadian Asset Management LLC bought a new stake in KORU Medical Systems during the 1st quarter worth approximately $63,000. Finally, Acuitas Investments LLC acquired a new position in KORU Medical Systems in the 2nd quarter valued at approximately $1,441,000. Institutional investors own 58.60% of the company’s stock.

About KORU Medical Systems

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.