KORE Group (NYSE:KORE) Stock Price Down 0.7% – Time to Sell?

Shares of KORE Group Holdings, Inc. (NYSE:KORE) dropped 0.7% during trading on Friday . The company traded as low as $4.31 and last traded at $4.37. Approximately 6,667 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 38,575 shares. The stock had previously closed at $4.40.

Analyst Ratings Changes

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

KORE Group Stock Performance

The stock’s 50-day moving average price is $4.09 and its two-hundred day moving average price is $3.03. The stock has a market capitalization of $76.65 million, a PE ratio of -1.22 and a beta of 1.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in KORE Group stock. Citadel Advisors LLC bought a new position in KORE Group Holdings, Inc. (NYSE:KORE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,551 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned approximately 0.07% of KORE Group at the end of the most recent quarter. 57.45% of the stock is owned by institutional investors.

About KORE Group

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.