KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Down 17.6% in November

KORE Group Holdings, Inc. (NYSE:KORE) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 22,500 shares, a decrease of 17.6% from the November 15th total of 27,300 shares. Based on an average daily trading volume, of 12,400 shares, the short-interest ratio is currently 1.8 days. Currently, 0.5% of the company’s shares are sold short.

KORE Group Trading Down 4.9 %

KORE Group stock traded down $0.06 during trading hours on Friday, reaching $1.17. 113,118 shares of the company’s stock were exchanged, compared to its average volume of 27,857. The firm’s 50 day simple moving average is $1.86 and its 200 day simple moving average is $2.26. KORE Group has a twelve month low of $1.14 and a twelve month high of $6.45. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 13.25. The firm has a market capitalization of $19.90 million, a PE ratio of -0.17 and a beta of 2.33.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On KORE Group

A hedge fund recently raised its stake in KORE Group stock. Renaissance Technologies LLC grew its position in shares of KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,200 shares of the company’s stock after acquiring an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned about 0.57% of KORE Group worth $40,000 as of its most recent filing with the Securities & Exchange Commission. 57.45% of the stock is owned by institutional investors and hedge funds.

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.