KORE Group (NYSE:KORE) Trading 2.6% Higher

KORE Group Holdings, Inc. (NYSE:KORE) shot up 2.6% on Friday . The stock traded as high as $2.35 and last traded at $2.35. 3,368 shares changed hands during trading, a decline of 89% from the average session volume of 31,999 shares. The stock had previously closed at $2.29.

Wall Street Analyst Weigh In

Separately, TD Cowen downgraded KORE Group from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a report on Friday, August 23rd.

KORE Group Price Performance

The firm has a market cap of $42.51 million, a price-to-earnings ratio of -0.25 and a beta of 2.48. The company has a debt-to-equity ratio of 13.25, a quick ratio of 1.24 and a current ratio of 1.36. The business has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $3.14.

KORE Group (NYSE:KORE) last announced its earnings results on Thursday, August 15th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.31). KORE Group had a negative return on equity of 389.39% and a negative net margin of 74.03%. The business had revenue of $67.87 million during the quarter, compared to analysts’ expectations of $73.37 million. Equities research analysts expect that KORE Group Holdings, Inc. will post -5.64 earnings per share for the current year.

Hedge Funds Weigh In On KORE Group

Several institutional investors have recently bought and sold shares of the company. Worth Venture Partners LLC bought a new position in shares of KORE Group in the fourth quarter worth $36,000. Renaissance Technologies LLC increased its stake in KORE Group by 7.2% in the second quarter. Renaissance Technologies LLC now owns 94,200 shares of the company’s stock valued at $40,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Courier Capital LLC bought a new position in KORE Group in the second quarter valued at $73,000. Hedge funds and other institutional investors own 57.45% of the company’s stock.

KORE Group Company Profile

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.