KORE Group (NYSE:KORE) Shares Down 1.9% – What’s Next?

KORE Group Holdings, Inc. (NYSE:KORE)’s stock price dropped 1.9% on Thursday . The company traded as low as $4.10 and last traded at $4.12. Approximately 55,726 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 66,753 shares. The stock had previously closed at $4.20.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KORE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KORE Group in a research report on Monday. TD Cowen raised their target price on shares of KORE Group from $3.00 to $5.00 and gave the company a “hold” rating in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $4.00.

KORE Group Price Performance

The firm has a market cap of $72.26 million, a price-to-earnings ratio of -1.15 and a beta of 1.72. The firm has a fifty day simple moving average of $3.60 and a two-hundred day simple moving average of $2.81.

Institutional Trading of KORE Group

Several large investors have recently bought and sold shares of KORE. XTX Topco Ltd acquired a new position in KORE Group during the 1st quarter valued at approximately $29,000. Citadel Advisors LLC acquired a new stake in shares of KORE Group during the third quarter worth $30,000. Finally, Diversified Trust Co purchased a new stake in shares of KORE Group during the second quarter valued at $598,000. Hedge funds and other institutional investors own 57.45% of the company’s stock.

About KORE Group

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.