KORE Group (NYSE:KORE) Stock Price Up 0.2% – Should You Buy?

KORE Group Holdings, Inc. (NYSE:KORE)’s stock price rose 0.2% during trading on Thursday . The company traded as high as $9.00 and last traded at $8.97. Approximately 195,805 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 203,139 shares. The stock had previously closed at $8.95.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KORE. Weiss Ratings reissued a “sell (d-)” rating on shares of KORE Group in a research note on Monday, December 29th. Wall Street Zen raised shares of KORE Group to a “hold” rating in a research report on Saturday, January 17th. Finally, TD Cowen increased their price target on KORE Group from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $4.00.

KORE Group Stock Up 0.2%

The stock has a market capitalization of $157.51 million, a price-to-earnings ratio of -2.51 and a beta of 1.58. The company has a 50 day simple moving average of $5.35 and a 200-day simple moving average of $4.04.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of KORE. Citadel Advisors LLC acquired a new stake in KORE Group in the third quarter worth $30,000. One68 Global Capital LLC acquired a new position in shares of KORE Group during the fourth quarter valued at about $59,000. State Street Corp raised its holdings in shares of 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 purchasing an additional 5,500 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of KORE Group by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock worth $150,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 57.45% of the company’s stock.

KORE Group Company Profile

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.