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

Posted by Cynthia Vaughn on Jan 28th, 2025

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

Wall Street Analysts Forecast Growth

Separately, TD Cowen upped their price objective on shares of KORE Group from $2.00 to $2.50 and gave the company a “hold” rating in a research report on Wednesday, November 20th.

Check Out Our Latest Report on KORE

KORE Group Stock Up 0.9 %

Shares of KORE Group stock traded up $0.02 on Tuesday, hitting $2.30. 9,258 shares of the company’s stock traded hands, compared to its average volume of 133,337. The stock has a market cap of $39.12 million, a P/E ratio of -0.33 and a beta of 1.93. The firm’s 50-day moving average is $1.88 and its 200 day moving average is $2.16. KORE Group has a 52-week low of $1.10 and a 52-week high of $5.45.

Hedge Funds Weigh In On KORE Group

An institutional investor recently raised its position in KORE Group stock. Renaissance Technologies LLC increased its holdings in KORE Group Holdings, Inc. (NYSE:KORE – Free Report) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,200 shares of the company’s stock after buying an additional 6,300 shares during the period. Renaissance Technologies LLC owned about 0.57% of KORE Group worth $40,000 as of its most recent filing with the SEC. 57.45% of the stock is owned by institutional investors and hedge funds.

About KORE Group

(Get Free Report)

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.