Short Interest in KORE Group Holdings, Inc. (NYSE:KORE) Decreases By 21.3%

KORE Group Holdings, Inc. (NYSE:KORE) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 17,700 shares, a decline of 21.3% from the November 30th total of 22,500 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 35,600 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, TD Cowen boosted their price objective on KORE Group from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Wednesday, November 20th.

KORE Group Trading Up 11.5 %

NYSE KORE traded up $0.28 during trading hours on Monday, reaching $2.72. The company’s stock had a trading volume of 6,990,344 shares, compared to its average volume of 63,172. The firm has a fifty day simple moving average of $1.77 and a 200-day simple moving average of $2.14. The company has a debt-to-equity ratio of 13.25, a current ratio of 1.30 and a quick ratio of 1.18. KORE Group has a 52 week low of $1.10 and a 52 week high of $6.45. The stock has a market cap of $46.26 million, a P/E ratio of -0.39 and a beta of 2.33.

Hedge Funds Weigh In On KORE Group

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC grew its stake in KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,200 shares of the company’s stock after buying an additional 6,300 shares during the period. Renaissance Technologies LLC owned 0.57% of KORE Group worth $40,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 57.45% of the company’s stock.

About KORE Group

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.