KORE Group Holdings, Inc. (NYSE:KORE) Stock Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of KORE Group Holdings, Inc. (NYSE:KORE) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,200 shares of the company’s stock after acquiring an additional 6,300 shares during the quarter. Renaissance Technologies LLC owned 0.57% of KORE Group worth $40,000 at the end of the most recent reporting period.

Separately, Courier Capital LLC acquired a new stake in shares of KORE Group in the second quarter worth $73,000. Hedge funds and other institutional investors own 57.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen cut KORE Group from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a research report on Friday, August 23rd.

KORE Group Stock Performance

Shares of KORE Group stock opened at $2.03 on Tuesday. The stock has a market cap of $33.78 million, a PE ratio of -0.22 and a beta of 2.47. KORE Group Holdings, Inc. has a 12 month low of $1.30 and a 12 month high of $6.45. The company has a quick ratio of 1.24, a current ratio of 1.36 and a debt-to-equity ratio of 13.25. The business has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $2.85.

KORE Group (NYSE:KORE) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.31). The firm had revenue of $67.87 million for the quarter, compared to analyst estimates of $73.37 million. KORE Group had a negative net margin of 74.03% and a negative return on equity of 389.39%. On average, sell-side analysts anticipate that KORE Group Holdings, Inc. will post -5.64 EPS for the current fiscal year.

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.