KORE Group (NYSE:KORE) Trading Down 0.2% – Time to Sell?

KORE Group Holdings, Inc. (NYSE:KORE)’s share price fell 0.2% during trading on Tuesday . The company traded as low as $9.19 and last traded at $9.20. 24,885 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 27,661 shares. The stock had previously closed at $9.22.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of KORE Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $5.00.

KORE Group Price Performance

The company’s fifty day simple moving average is $9.17 and its 200-day simple moving average is $7.23. The firm has a market capitalization of $161.81 million, a PE ratio of -2.38 and a beta of 1.47.

KORE Group (NYSE:KORE) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.42) by ($1.01). The firm had revenue of $65.82 million during the quarter, compared to analysts’ expectations of $72.20 million. As a group, equities research analysts anticipate that KORE Group Holdings, Inc. will post -1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KORE Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KORE. Citadel Advisors LLC acquired a new stake in KORE Group in the third quarter worth about $30,000. One68 Global Capital LLC acquired a new position in shares of KORE Group during the fourth quarter valued at about $59,000. State Street Corp increased its holdings in shares of KORE Group by 23.2% during the fourth quarter. State Street Corp now owns 29,217 shares of the company’s stock valued at $123,000 after acquiring an additional 5,500 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of KORE Group by 14.5% in the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company’s stock valued at $150,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of KORE Group in the 1st quarter valued at approximately $902,000. 57.45% of the stock is currently owned by hedge funds and other 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.