KORU Medical Systems, Inc. (NASDAQ:KRMD) Short Interest Up 10.3% in October

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 504,300 shares, an increase of 10.3% from the September 30th total of 457,400 shares. Based on an average daily trading volume, of 68,500 shares, the days-to-cover ratio is presently 7.4 days. Approximately 1.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KRMD. Piper Sandler upped their target price on KORU Medical Systems from $2.50 to $3.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. B. Riley began coverage on KORU Medical Systems in a research report on Thursday, July 25th. They issued a “buy” rating and a $4.00 price objective for the company.

Hedge Funds Weigh In On KORU Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of KORU Medical Systems by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock worth $4,630,000 after buying an additional 51,890 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of KORU Medical Systems during the 2nd quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in KORU Medical Systems in the 2nd quarter valued at approximately $107,000. Legato Capital Management LLC acquired a new stake in KORU Medical Systems during the 2nd quarter valued at $35,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in KORU Medical Systems during the second quarter worth $28,000. 58.60% of the stock is owned by institutional investors and hedge funds.

KORU Medical Systems Stock Performance

Shares of KRMD stock traded up $0.29 during mid-day trading on Thursday, hitting $2.92. 51,234 shares of the stock were exchanged, compared to its average volume of 117,726. The stock has a market capitalization of $133.90 million, a price-to-earnings ratio of -10.43 and a beta of 0.42. The stock’s fifty day simple moving average is $2.55 and its two-hundred day simple moving average is $2.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.27 and a current ratio of 3.77. KORU Medical Systems has a 12-month low of $1.98 and a 12-month high of $3.09.

KORU Medical Systems (NASDAQ:KRMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $8.43 million for the quarter, compared to analysts’ expectations of $7.52 million. KORU Medical Systems had a negative net margin of 38.16% and a negative return on equity of 20.82%. During the same period in the previous year, the company posted ($0.05) EPS. On average, analysts forecast that KORU Medical Systems will post -0.13 EPS for the current year.

About KORU Medical Systems

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.