KORE Group (NYSE:KORE) Announces Earnings Results, Misses Estimates By $0.15 EPS

KORE Group (NYSE:KORE) released its earnings results on Wednesday. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.15), Zacks reports. The business had revenue of $68.69 million for the quarter, compared to analysts’ expectations of $72.70 million.

KORE Group Stock Up 1.0%

Shares of NYSE KORE traded up $0.04 during mid-day trading on Thursday, hitting $4.09. 151,009 shares of the company traded hands, compared to its average volume of 48,269. KORE Group has a 1 year low of $1.10 and a 1 year high of $4.88. The stock has a market capitalization of $71.55 million, a price-to-earnings ratio of -1.04 and a beta of 1.74. The business has a 50 day moving average of $3.00 and a two-hundred day moving average of $2.62.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KORE shares. TD Cowen boosted their target price on KORE Group from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of KORE Group in a research report on Tuesday. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, KORE Group currently has a consensus rating of “Reduce” and a consensus target price of $4.00.

KORE Group Company Profile

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.