KORE Group Holdings Inc. [KORE] Revenue clocked in at $317.20 million, down -50.15% YTD: What’s Next?


KORE Group Holdings Inc. [NYSE: KORE] loss -7.69% on the last trading session, reaching $3.36 price per share at the time. The company report on May 24, 2022 that KORE Cutting Ribbon on New Operational Headquarters for IoT Managed Services.

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KORE moves to Pittsford location to expand managed services to IoT customers .

KORE (NYSE: KORE), a global leader in Internet  of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (CaaS), celebrated the ribbon cutting of its new location in Pittsford, N.Y. This strategic move is due to KORE’s need for additional space for its managed service business.

KORE Group Holdings Inc. represents 74.04 million in outstanding shares, while the company has a total market value of $277.50 million with the latest information. KORE stock price has been found in the range of $3.35 to $3.84.

If compared to the average trading volume of 128.88K shares, KORE reached a trading volume of 164903 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about KORE Group Holdings Inc. [KORE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for KORE shares is $8.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on KORE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for KORE Group Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 20, 2022. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on January 10, 2022, representing the official price target for KORE Group Holdings Inc. stock. Previously, the target price had yet another raise to $7.50, while Morgan Stanley analysts kept a Equal-Weight rating on KORE stock.

The Average True Range (ATR) for KORE Group Holdings Inc. is set at 0.40, with the Price to Sales ratio for KORE stock in the period of the last 12 months amounting to 0.87. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 0.39.

Trading performance analysis for KORE stock

KORE Group Holdings Inc. [KORE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.89. With this latest performance, KORE shares dropped by -22.94% in over the last four-week period, additionally sinking by -46.67% over the last 6 months – not to mention a drop of -66.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KORE stock in for the last two-week period is set at 38.57, with the RSI for the last a single of trading hit 38.38, and the three-weeks RSI is set at 38.94 for KORE Group Holdings Inc. [KORE]. The present Moving Average for the last 50 days of trading for this stock 4.51, while it was recorded at 3.33 for the last single week of trading.

KORE Group Holdings Inc. [KORE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and KORE Group Holdings Inc. [KORE] shares currently have an operating margin of -6.47 and a Gross Margin at +30.45. KORE Group Holdings Inc.’s Net Margin is presently recorded at -9.85.

Return on Equity for this stock declined to -9.55, with Return on Assets sitting at -4.79.

KORE Group Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.50.

An analysis of insider ownership at KORE Group Holdings Inc. [KORE]

There are presently around $88 million, or 66.10% of KORE stock, in the hands of institutional investors. The top three institutional holders of KORE stocks are: SPRING CREEK CAPITAL LLC with ownership of 10,000,000, which is approximately 0% of the company’s market cap and around 21.13% of the total institutional ownership; MUDRICK CAPITAL MANAGEMENT, L.P., holding 4,000,000 shares of the stock with an approximate value of $13.44 million in KORE stocks shares; and MARATHON ASSET MANAGEMENT LP, currently with $7.81 million in KORE stock with ownership of nearly 0% of the company’s market capitalization.

Positions in KORE Group Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 27 institutional holders increased their position in KORE Group Holdings Inc. [NYSE:KORE] by around 1,570,244 shares. Additionally, 16 investors decreased positions by around 1,196,207 shares, while 15 investors held positions by with 23,542,926 shares. The mentioned changes placed institutional holdings at 26,309,377 shares, according to the latest SEC report filing. KORE stock had 13 new institutional investments in for a total of 738,687 shares, while 5 institutional investors sold positions of 383,243 shares during the same period.