KORE Group (NYSE:KORE – Get Free Report) issued its quarterly earnings results on Monday. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.95), FiscalAI reports. The business had revenue of $65.82 million for the quarter.
KORE Group Price Performance
NYSE:KORE opened at $9.17 on Tuesday. The company has a market capitalization of $161.18 million, a price-to-earnings ratio of -2.87 and a beta of 1.49. KORE Group has a 1-year low of $2.00 and a 1-year high of $9.22. The business has a 50 day moving average of $9.07 and a 200 day moving average of $6.09.
Analyst Ratings Changes
A number of equities analysts recently weighed in on KORE shares. Weiss Ratings restated a “sell (d-)” rating on shares of KORE Group in a report on Friday, March 27th. Wall Street Zen raised KORE Group to a “hold” rating in a report on Saturday, January 17th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, KORE Group has a consensus rating of “Reduce” and a consensus target price of $5.00.
Hedge Funds Weigh In On KORE Group
A number of large investors have recently bought and sold shares of KORE. Renaissance Technologies LLC raised its holdings 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 buying an additional 4,500 shares during the last quarter. State Street Corp lifted its position in KORE Group by 23.2% during the fourth quarter. State Street Corp now owns 29,217 shares of the company’s stock valued at $123,000 after buying an additional 5,500 shares during the period. Citadel Advisors LLC purchased a new position in KORE Group during the 3rd quarter valued at about $30,000. One68 Global Capital LLC bought a new stake in shares of KORE Group in the 4th quarter worth approximately $59,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in KORE Group in the first quarter worth $902,000. 57.45% of the stock is owned by hedge funds and other 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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