KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Down 48.8% in January

KORE Group Holdings, Inc. (NYSE:KORE) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 177,609 shares, a decrease of 48.8% from the January 15th total of 347,013 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 53,491 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily trading volume, of 53,491 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities analysts recently commented on KORE shares. TD Cowen increased their target price on shares of KORE Group from $3.00 to $5.00 and gave the company a “hold” rating in a report on Thursday, November 13th. Wall Street Zen upgraded KORE Group to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of KORE Group in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, KORE Group presently has a consensus rating of “Reduce” and an average target price of $4.00.

Institutional Trading of KORE Group

An institutional investor recently bought a new position in KORE Group stock. Citadel Advisors LLC bought a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,551 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned approximately 0.07% of KORE Group as of its most recent filing with the Securities & Exchange Commission. 57.45% of the stock is currently owned by institutional investors and hedge funds.

KORE Group Stock Performance

Shares of KORE Group stock traded up $0.11 during midday trading on Thursday, hitting $5.03. The company had a trading volume of 8,595 shares, compared to its average volume of 49,610. KORE Group has a 52-week low of $2.00 and a 52-week high of $5.29. The stock has a market capitalization of $88.14 million, a P/E ratio of -1.40 and a beta of 1.73. The company has a 50 day moving average of $4.64 and a 200 day moving average of $3.56.

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.