KORE Group (NYSE:KORE) Shares Scheduled to Reverse Split on Monday, July 1st

KORE Group Holdings, Inc. (NYSE:KORE)’s stock is scheduled to reverse split on the morning of Monday, July 1st. The 1-5 reverse split was announced on Monday, July 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, July 1st.

KORE Group Trading Up 3.7 %

KORE Group stock opened at $0.44 on Thursday. KORE Group has a 52 week low of $0.28 and a 52 week high of $1.59. The firm has a market capitalization of $36.36 million, a PE ratio of -0.23 and a beta of 2.59. The business’s 50-day simple moving average is $0.70 and its 200-day simple moving average is $0.79. The company has a debt-to-equity ratio of 13.25, a quick ratio of 1.26 and a current ratio of 1.37.

KORE Group (NYSE:KORE) last released its earnings results on Wednesday, May 15th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). KORE Group had a negative return on equity of 123.65% and a negative net margin of 57.97%. The firm had revenue of $75.98 million for the quarter, compared to analyst estimates of $73.66 million. Equities research analysts forecast that KORE Group will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “buy” rating and set a $3.50 target price on shares of KORE Group in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, KORE Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.94.

Institutional Investors Weigh In On KORE Group

An institutional investor recently bought a new position in KORE Group stock. Worth Venture Partners LLC acquired a new stake in shares of KORE Group Holdings, Inc. (NYSE:KORE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 37,038 shares of the company’s stock, valued at approximately $36,000. 57.45% of the stock is owned by institutional investors and hedge funds.

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.