KORE Group Holdings, Inc. (NYSE:KORE) Sees Large Growth in Short Interest

KORE Group Holdings, Inc. (NYSE:KORE) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 117,500 shares, a growth of 20.0% from the February 28th total of 97,900 shares. Based on an average trading volume of 201,300 shares, the short-interest ratio is currently 0.6 days. Approximately 2.5% of the company’s stock are short sold.

Hedge Funds Weigh In On KORE Group

A hedge fund recently bought a new stake in KORE Group stock. Vectors Research Management LLC bought a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,430 shares of the company’s stock, valued at approximately $111,000. Vectors Research Management LLC owned approximately 0.20% of KORE Group as of its most recent SEC filing. 57.45% of the stock is owned by institutional investors.

KORE Group Stock Performance

Shares of KORE stock traded up $0.02 during trading hours on Wednesday, hitting $2.57. 9,895 shares of the company were exchanged, compared to its average volume of 74,534. The stock has a market capitalization of $43.71 million, a price-to-earnings ratio of -0.36 and a beta of 1.85. KORE Group has a one year low of $1.10 and a one year high of $4.88. The business’s 50-day simple moving average is $2.46 and its two-hundred day simple moving average is $2.14.

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.