KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Update

KORE Group Holdings, Inc. (NYSE:KORE) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 177,609 shares, a decline of 48.8% from the January 15th total of 347,013 shares. Based on an average daily trading volume, of 53,491 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.5% of the company’s shares are sold short. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 53,491 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KORE. TD Cowen raised their target price on KORE Group from $3.00 to $5.00 and gave the company a “hold” rating in a report on Thursday, November 13th. Wall Street Zen upgraded shares of KORE Group to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of KORE Group in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $4.00.

Hedge Funds Weigh In On KORE Group

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of KORE Group by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock worth $150,000 after buying an additional 4,500 shares during the last quarter. State Street Corp raised its stake in KORE Group by 23.2% during the 4th quarter. State Street Corp now owns 29,217 shares of the company’s stock worth $123,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in KORE Group during the 3rd quarter worth $30,000. 57.45% of the stock is currently owned by hedge funds and other institutional investors.

KORE Group Trading Up 0.7%

Shares of NYSE:KORE traded up $0.04 on Friday, hitting $5.04. 55,885 shares of the company’s stock were exchanged, compared to its average volume of 43,210. KORE Group has a 1-year low of $2.00 and a 1-year high of $5.29. The firm’s 50-day moving average is $4.66 and its 200 day moving average is $3.57.

About KORE Group

KORE Group (NYSE: KORE) is a global provider of Internet of Things (IoT) connectivity and managed services, helping enterprises deploy, secure and scale their IoT applications. The company offers a comprehensive suite of solutions that includes cellular, satellite and Low-Power Wide-Area Network (LPWAN) connectivity, multi-network SIM management, eSIM provisioning and cloud-based IoT platforms. Through its unified approach, KORE enables businesses to streamline the complexities of device onboarding, monitoring and lifecycle management across diverse geographies.

Founded in 2002 and headquartered in Atlanta, Georgia, KORE has grown through a combination of organic innovation and strategic acquisitions to become one of the world’s largest independent IoT service providers.