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

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,050,000 shares, a growth of 5.6% from the March 15th total of 994,500 shares. Based on an average daily volume of 95,500 shares, the short-interest ratio is currently 11.0 days.

Wall Street Analyst Weigh In

Separately, B. Riley reiterated a “buy” rating and issued a $4.00 price objective on shares of KORU Medical Systems in a research note on Thursday, March 14th.

Institutional Investors Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. B. Riley Asset Management LLC grew its holdings in KORU Medical Systems by 2.7% during the 3rd quarter. B. Riley Asset Management LLC now owns 833,663 shares of the company’s stock valued at $2,251,000 after buying an additional 21,738 shares in the last quarter. Eagle Asset Management Inc. lifted its position in KORU Medical Systems by 70.1% in the third quarter. Eagle Asset Management Inc. now owns 54,096 shares of the company’s stock worth $146,000 after buying an additional 22,299 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of KORU Medical Systems during the third quarter worth $34,000. Meros Investment Management LP lifted its position in shares of KORU Medical Systems by 12.3% during the third quarter. Meros Investment Management LP now owns 515,396 shares of the company’s stock worth $1,392,000 after purchasing an additional 56,293 shares during the last quarter. Finally, White Pine Capital LLC purchased a new position in KORU Medical Systems in the 3rd quarter worth about $158,000. 58.60% of the stock is owned by hedge funds and other institutional investors.

KORU Medical Systems Trading Up 3.4 %

KORU Medical Systems stock opened at $2.15 on Wednesday. The firm has a 50 day moving average of $2.19 and a 200 day moving average of $2.27. The firm has a market capitalization of $98.28 million, a price-to-earnings ratio of -7.41 and a beta of 0.53. KORU Medical Systems has a 12-month low of $1.98 and a 12-month high of $4.48. The company has a current ratio of 4.55, a quick ratio of 3.77 and a debt-to-equity ratio of 0.02.

KORU Medical Systems (NASDAQ:KRMD) last released its earnings results on Wednesday, March 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $7.19 million during the quarter, compared to analyst estimates of $7.01 million. KORU Medical Systems had a negative net margin of 48.18% and a negative return on equity of 27.82%. As a group, research analysts predict that KORU Medical Systems will post -0.15 earnings per share for the current year.

KORU Medical Systems Company Profile

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.