KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Up 28.5% in December

KORE Group Holdings, Inc. (NYSE:KORE) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 372,808 shares, an increase of 28.5% from the November 30th total of 290,100 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 50,722 shares, the days-to-cover ratio is presently 7.4 days. Based on an average daily trading volume, of 50,722 shares, the days-to-cover ratio is presently 7.4 days. Currently, 3.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in KORE Group stock. Citadel Advisors LLC bought a new position in KORE Group Holdings, Inc. (NYSE:KORE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,551 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned about 0.07% of KORE Group as of its most recent filing with the Securities and Exchange Commission. 57.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KORE has been the subject of a number of analyst reports. TD Cowen upped their price target on KORE Group from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of KORE Group in a research note on Monday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

KORE Group Stock Up 1.2%

Shares of KORE opened at $4.22 on Friday. The firm has a market cap of $74.02 million, a price-to-earnings ratio of -1.18 and a beta of 1.71. The business’s 50 day moving average is $4.19 and its two-hundred day moving average is $3.08. KORE Group has a 52-week low of $1.66 and a 52-week high of $4.88.

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.