KORE Group (NYSE:KORE) Issues Quarterly Earnings Results

by · The Cerbat Gem

KORE Group (NYSE:KORE – Get Free Report) posted its quarterly earnings data on Monday. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($1.01), FiscalAI reports. The business had revenue of $65.82 million for the quarter, compared to analysts’ expectations of $72.20 million.

KORE Group Stock Performance

KORE traded up $0.01 during trading hours on Wednesday, reaching $9.16. The company’s stock had a trading volume of 1,468 shares, compared to its average volume of 94,368. KORE Group has a 52 week low of $2.00 and a 52 week high of $9.22. The company’s 50-day moving average is $9.07 and its 200-day moving average is $6.14. The firm has a market cap of $161.12 million, a PE ratio of -2.37 and a beta of 1.49.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KORE. Weiss Ratings restated a “sell (d-)” rating on shares of KORE Group in a research report on Friday, March 27th. Wall Street Zen raised KORE Group to a “hold” rating in a report on Saturday, January 17th. One investment 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 target price of $5.00.

Check Out Our Latest Analysis on KORE Group

Institutional Trading of KORE Group

Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of KORE Group during the 3rd quarter worth $30,000. One68 Global Capital LLC acquired a new stake in shares of KORE Group during the fourth quarter valued at about $59,000. State Street Corp boosted its stake 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 purchasing an additional 5,500 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of KORE Group by 14.5% during the fourth 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 in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of KORE Group during the first quarter valued at about $902,000. 57.45% of the stock is owned by institutional investors and hedge funds.

About KORE Group

(Get Free Report)

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.

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