KORE Group (NYSE:KORE) Announces Quarterly Earnings Results, Misses Estimates By $0.15 EPS

KORE Group (NYSE:KORE) posted its quarterly earnings results on Wednesday. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.15), Zacks reports. The business had revenue of $68.69 million for the quarter, compared to the consensus estimate of $72.70 million.

KORE Group Trading Up 1.0%

KORE traded up $0.04 during trading on Thursday, reaching $4.09. 151,009 shares of the company were exchanged, compared to its average volume of 48,269. KORE Group has a 52 week low of $1.10 and a 52 week high of $4.88. The firm has a 50 day moving average of $3.00 and a 200 day moving average of $2.62. The stock has a market cap of $71.55 million, a P/E ratio of -1.04 and a beta of 1.74.

Analyst Ratings Changes

KORE has been the topic of several research analyst reports. TD Cowen lifted their price objective on KORE Group from $3.00 to $5.00 and gave the company a “hold” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of KORE Group in a report on Tuesday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $4.00.

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.