KORE Group Holdings, Inc. (NYSE:KORE) Short Interest Up 2,359.9% in January

Posted by Don Miller on Jan 28th, 2025

KORE Group Holdings, Inc. (NYSE:KORE – Get Free Report) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 435,400 shares, an increase of 2,359.9% from the December 31st total of 17,700 shares. Currently, 8.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 196,400 shares, the short-interest ratio is currently 2.2 days.

Hedge Funds Weigh In On KORE Group

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC lifted its holdings in shares of KORE Group Holdings, Inc. (NYSE:KORE – Free Report) by 7.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,200 shares of the company’s stock after purchasing an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned about 0.57% of KORE Group worth $40,000 as of its most recent SEC filing. 57.45% of the stock is currently owned by institutional investors and hedge funds.

KORE Group Stock Up 0.9 %

Shares of KORE Group stock traded up $0.02 during trading on Tuesday, hitting $2.30. 9,258 shares of the company were exchanged, compared to its average volume of 133,337. KORE Group has a fifty-two week low of $1.10 and a fifty-two week high of $5.45. The stock has a market capitalization of $39.12 million, a price-to-earnings ratio of -0.33 and a beta of 1.93. The firm has a 50 day moving average price of $1.88 and a 200 day moving average price of $2.16.

Analyst Upgrades and Downgrades

Separately, TD Cowen lifted their price target on KORE Group from $2.00 to $2.50 and gave the stock a “hold” rating in a research note on Wednesday, November 20th.

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About KORE Group

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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.