Short Interest in KORU Medical Systems, Inc. (NASDAQ:KRMD) Rises By 34.8%

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 506,600 shares, a growth of 34.8% from the February 13th total of 375,900 shares. Based on an average daily volume of 174,800 shares, the short-interest ratio is currently 2.9 days. Approximately 1.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Lake Street Capital upped their target price on shares of KORU Medical Systems from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Piper Sandler restated a “neutral” rating and set a $4.50 target price on shares of KORU Medical Systems in a research report on Friday, February 14th. Craig Hallum upped their target price on shares of KORU Medical Systems from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, B. Riley upgraded shares of KORU Medical Systems to a “strong-buy” rating in a research report on Thursday, March 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $4.70.

KORU Medical Systems Trading Down 1.7 %

NASDAQ:KRMD traded down $0.05 during trading hours on Tuesday, reaching $2.92. 23,265 shares of the company were exchanged, compared to its average volume of 135,660. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.99 and a quick ratio of 2.37. The firm has a market cap of $133.84 million, a price-to-earnings ratio of -11.50 and a beta of 0.74. KORU Medical Systems has a 52-week low of $2.04 and a 52-week high of $5.05. The stock has a 50 day simple moving average of $3.92 and a 200 day simple moving average of $3.41.

Hedge Funds Weigh In On KORU Medical Systems

Large investors have recently bought and sold shares of the stock. Topline Capital Management LLC purchased a new position in shares of KORU Medical Systems in the 4th quarter valued at $16,660,000. First Light Asset Management LLC raised its stake in shares of KORU Medical Systems by 5.7% in the 4th quarter. First Light Asset Management LLC now owns 5,915,434 shares of the company’s stock valued at $22,774,000 after acquiring an additional 316,509 shares during the period. Empire Financial Management Company LLC purchased a new position in shares of KORU Medical Systems in the 3rd quarter valued at $259,000. 683 Capital Management LLC purchased a new position in shares of KORU Medical Systems in the 4th quarter valued at $340,000. Finally, Russell Investments Group Ltd. raised its stake in shares of KORU Medical Systems by 41,806.9% in the 4th quarter. Russell Investments Group Ltd. now owns 67,051 shares of the company’s stock valued at $258,000 after acquiring an additional 66,891 shares during the period. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.