Short Interest in KORU Medical Systems, Inc. (NASDAQ:KRMD) Drops By 12.6%

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 372,600 shares, a decrease of 12.6% from the December 15th total of 426,400 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 67,100 shares, the short-interest ratio is currently 5.6 days.

KORU Medical Systems Stock Performance

Shares of KRMD traded up $0.09 during mid-day trading on Friday, hitting $4.09. The stock had a trading volume of 192,961 shares, compared to its average volume of 88,187. 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 company has a market cap of $187.49 million, a PE ratio of -16.36 and a beta of 0.45. KORU Medical Systems has a fifty-two week low of $1.98 and a fifty-two week high of $4.60. The company’s fifty day simple moving average is $3.82 and its two-hundred day simple moving average is $2.98.

Hedge Funds Weigh In On KORU Medical Systems

A number of hedge funds have recently added to or reduced their stakes in KRMD. Geode Capital Management LLC lifted its position in shares of KORU Medical Systems by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock worth $1,262,000 after buying an additional 28,323 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in KORU Medical Systems by 77.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock worth $168,000 after acquiring an additional 26,860 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in KORU Medical Systems in the second quarter worth about $107,000. Meros Investment Management LP boosted its stake in KORU Medical Systems by 20.7% in the second quarter. Meros Investment Management LP now owns 804,380 shares of the company’s stock valued at $2,132,000 after acquiring an additional 137,918 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of KORU Medical Systems during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on KORU Medical Systems from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. 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. Lake Street Capital raised their price target on shares of KORU Medical Systems from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Piper Sandler upped their price target on shares of KORU Medical Systems from $3.00 to $3.50 and gave the company an “overweight” rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, KORU Medical Systems currently has an average rating of “Buy” and an average target price of $4.50.

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.