KORE Group Holdings, Inc. (NYSE:KORE – Get Free Report) shares traded down 0.2% during trading on Tuesday . The company traded as low as $9.19 and last traded at $9.20. 24,885 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 27,661 shares. The stock had previously closed at $9.22.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of KORE Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $5.00.
Check Out Our Latest Analysis on KORE
KORE Group Stock Up 0.1%
KORE Group (NYSE:KORE – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($1.01). The company had revenue of $65.82 million during the quarter, compared to the consensus estimate of $72.20 million. Equities research analysts anticipate that KORE Group Holdings, Inc. will post -1.36 earnings per share for the current year.
Hedge Funds Weigh In On KORE Group
Institutional investors and hedge funds have recently modified their holdings of the stock. One68 Global Capital LLC bought a new position in KORE Group in the 4th quarter worth about $59,000. State Street Corp increased 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 valued at $123,000 after purchasing an additional 5,500 shares in the last quarter. Renaissance Technologies LLC increased its stake in KORE Group by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock valued at $150,000 after purchasing an additional 4,500 shares in the last quarter. Citadel Advisors LLC purchased a new position in KORE Group in the third quarter worth about $30,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in KORE Group in the first quarter worth about $902,000. 57.45% of the stock is currently owned by institutional investors.
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.
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