TD Cowen Increases KORE Group (NYSE:KORE) Price Target to $2.50

KORE Group (NYSE:KORE) had its price target upped by equities researchers at TD Cowen from $2.00 to $2.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 28.21% from the stock’s current price.

KORE Group Stock Performance

Shares of KORE opened at $1.95 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.36 and a debt-to-equity ratio of 13.25. KORE Group has a 12 month low of $1.30 and a 12 month high of $6.45. The company’s fifty day moving average is $2.08 and its 200-day moving average is $2.52. The firm has a market cap of $35.28 million, a price-to-earnings ratio of -0.28 and a beta of 2.47.

Institutional Investors Weigh In On KORE Group

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC raised its stake in KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 94,200 shares of the company’s stock after buying an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned about 0.57% of KORE Group worth $40,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.45% of the company’s stock.

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.