KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Significant Increase in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 506,600 shares, an increase of 34.8% from the February 13th total of 375,900 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 174,800 shares, the days-to-cover ratio is presently 2.9 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On KORU Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of KORU Medical Systems by 6.5% in the third quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock valued at $1,262,000 after buying an additional 28,323 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of KORU Medical Systems in the fourth quarter valued at about $104,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of KORU Medical Systems by 77.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock valued at $168,000 after buying an additional 26,860 shares during the period. Calamos Advisors LLC acquired a new stake in shares of KORU Medical Systems in the fourth quarter valued at about $250,000. Finally, XTX Topco Ltd acquired a new stake in shares of KORU Medical Systems in the third quarter valued at about $34,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

KORU Medical Systems Trading Up 7.2 %

KORU Medical Systems stock traded up $0.20 during trading hours on Monday, hitting $2.97. The stock had a trading volume of 233,080 shares, compared to its average volume of 136,099. The company has a quick ratio of 2.37, a current ratio of 2.99 and a debt-to-equity ratio of 0.01. The stock has a market cap of $136.14 million, a price-to-earnings ratio of -11.88 and a beta of 0.74. KORU Medical Systems has a one year low of $2.04 and a one year high of $5.05. The business’s 50 day simple moving average is $3.92 and its 200-day simple moving average is $3.41.

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.