KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Large Decline in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 718,095 shares, a decrease of 17.5% from the February 12th total of 869,950 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily volume of 169,541 shares, the short-interest ratio is presently 4.2 days. Based on an average daily volume of 169,541 shares, the short-interest ratio is presently 4.2 days. Currently, 2.0% of the company’s stock are short sold.

KORU Medical Systems Stock Performance

Shares of KRMD stock opened at $4.28 on Wednesday. KORU Medical Systems has a 52 week low of $1.86 and a 52 week high of $6.61. The company has a market capitalization of $198.42 million, a price-to-earnings ratio of -71.25 and a beta of 0.47. The company has a 50-day simple moving average of $5.05 and a 200 day simple moving average of $4.80.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. KORU Medical Systems had a negative net margin of 6.41% and a negative return on equity of 15.90%. The firm had revenue of $10.90 million during the quarter, compared to the consensus estimate of $10.90 million. Sell-side analysts forecast that KORU Medical Systems will post -0.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KRMD shares. Wall Street Zen downgraded shares of KORU Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday. Craig Hallum reissued a “buy” rating and issued a $7.00 price objective on shares of KORU Medical Systems in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KORU Medical Systems in a report on Thursday, January 22nd. Lake Street Capital boosted their price target on KORU Medical Systems from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, B. Riley Financial raised their price objective on KORU Medical Systems from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, KORU Medical Systems has an average rating of “Moderate Buy” and an average target price of $6.50.

Institutional Trading of KORU Medical Systems

Institutional investors have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey bought a new position in KORU Medical Systems during the 2nd quarter worth $30,000. BNP Paribas Financial Markets lifted its holdings in shares of KORU Medical Systems by 52.1% during the third quarter. BNP Paribas Financial Markets now owns 10,148 shares of the company’s stock worth $39,000 after buying an additional 3,478 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of KORU Medical Systems in the second quarter valued at about $59,000. Acadian Asset Management LLC bought a new stake in shares of KORU Medical Systems in the first quarter valued at about $63,000. Finally, Intech Investment Management LLC acquired a new position in shares of KORU Medical Systems in the second quarter valued at about $73,000. 58.60% of the stock is currently owned by institutional investors.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria. Its products include the FREEDOM60 syringe infusion system, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing products.