KORE Group (NYSE:KORE) Shares Down 1.4% – Time to Sell?

KORE Group Holdings, Inc. (NYSE:KORE) dropped 1.4% during mid-day trading on Thursday . The stock traded as low as $2.36 and last traded at $2.41. Approximately 3,952 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 74,790 shares. The stock had previously closed at $2.44.

Wall Street Analysts Forecast Growth

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

KORE Group Price Performance

The company has a market cap of $41.16 million, a P/E ratio of -0.34 and a beta of 1.85. The stock’s 50-day moving average is $2.35 and its two-hundred day moving average is $2.13.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in KORE Group stock. Vectors Research Management LLC purchased a new position in shares of KORE Group Holdings, Inc. (NYSE:KORE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 34,430 shares of the company’s stock, valued at approximately $111,000. Vectors Research Management LLC owned about 0.20% of KORE Group 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.