KORU Medical Systems, Inc. (NASDAQ:KRMD) Short Interest Update

by · The Markets Daily

KORU Medical Systems, Inc. (NASDAQ:KRMD – Get Free Report) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 504,300 shares, an increase of 10.3% from the September 30th total of 457,400 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 68,500 shares, the days-to-cover ratio is currently 7.4 days.

KORU Medical Systems Price Performance

KORU Medical Systems stock traded up $0.29 during midday trading on Thursday, reaching $2.92. 35,361 shares of the stock traded hands, compared to its average volume of 117,651. The stock’s fifty day moving average is $2.55 and its 200-day moving average is $2.41. KORU Medical Systems has a 12 month low of $1.98 and a 12 month high of $3.09. The stock has a market cap of $133.90 million, a P/E ratio of -10.43 and a beta of 0.42. The company has a quick ratio of 3.27, a current ratio of 3.77 and a debt-to-equity ratio of 0.01.

KORU Medical Systems (NASDAQ:KRMD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $8.43 million during the quarter, compared to analyst estimates of $7.52 million. KORU Medical Systems had a negative return on equity of 20.82% and a negative net margin of 38.16%. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, equities research analysts anticipate that KORU Medical Systems will post -0.13 EPS for the current year.

Wall Street Analyst Weigh In

KRMD has been the subject of several research analyst reports. Piper Sandler increased their target price on KORU Medical Systems from $2.50 to $3.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. B. Riley initiated coverage on KORU Medical Systems in a research note on Thursday, July 25th. They set a “buy” rating and a $4.00 price target for the company.

Check Out Our Latest Research Report on KORU Medical Systems

Institutional Investors Weigh In On KORU Medical Systems

Several institutional investors have recently modified their holdings of KRMD. Aaron Wealth Advisors LLC bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at approximately $28,000. Legato Capital Management LLC bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at approximately $35,000. Virtu Financial LLC purchased a new stake in shares of KORU Medical Systems in the first quarter worth approximately $63,000. Finally, Advisor Resource Council purchased a new stake in shares of KORU Medical Systems in the first quarter worth approximately $63,000. 58.60% of the stock is owned by institutional investors.

About KORU Medical Systems

(Get Free Report)

KORU Medical Systems, Inc develops and manufactures medical devices and supplies in the United States and internationally. It offers the freedom infusion systems to deliver life-saving therapies to patients with chronic illnesses, such as primary immunodeficiency diseases, chronic inflammatory demyelinating polyneuropathy, and paroxysmal nocturnal hemoglobinuria.

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