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

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a large increase in short interest in 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. Based on an average daily volume of 174,800 shares, the short-interest ratio is presently 2.9 days. Approximately 1.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KRMD shares. B. Riley upgraded shares of KORU Medical Systems to a “strong-buy” rating in a research report on Thursday. Piper Sandler reiterated a “neutral” rating and issued a $4.50 price target on shares of KORU Medical Systems in a report on Friday, February 14th. Craig Hallum increased their price objective on shares of KORU Medical Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Lake Street Capital lifted their target price on KORU Medical Systems from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, KORU Medical Systems presently has an average rating of “Buy” and a consensus price target of $4.70.

KORU Medical Systems Price Performance

Shares of NASDAQ:KRMD traded up $0.07 on Friday, reaching $2.77. The company’s stock had a trading volume of 262,974 shares, compared to its average volume of 135,709. The company has a 50-day simple moving average of $3.94 and a 200 day simple moving average of $3.40. KORU Medical Systems has a 52-week low of $2.04 and a 52-week high of $5.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.99. The company has a market cap of $126.97 million, a P/E ratio of -11.08 and a beta of 0.74.

Institutional Investors Weigh In On KORU Medical Systems

Several large investors have recently added to or reduced their stakes in the stock. Topline Capital Management LLC purchased a new position in shares of KORU Medical Systems in the 4th quarter worth approximately $16,660,000. First Light Asset Management LLC boosted its stake in KORU Medical Systems by 5.7% during the fourth quarter. First Light Asset Management LLC now owns 5,915,434 shares of the company’s stock worth $22,774,000 after buying an additional 316,509 shares during the period. Empire Financial Management Company LLC bought a new position in KORU Medical Systems during the third quarter valued at $259,000. 683 Capital Management LLC purchased a new stake in shares of KORU Medical Systems in the fourth quarter valued at $340,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of KORU Medical Systems by 41,806.9% during the 4th quarter. Russell Investments Group Ltd. now owns 67,051 shares of the company’s stock worth $258,000 after purchasing an additional 66,891 shares during the period. 58.60% of the stock is owned by institutional investors.

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.