KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Significant Increase in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 457,400 shares, a growth of 122.6% from the September 15th total of 205,500 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 65,600 shares, the short-interest ratio is currently 7.0 days.

KORU Medical Systems Stock Up 5.0 %

Shares of KORU Medical Systems stock traded up $0.13 during trading on Friday, reaching $2.72. 22,707 shares of the company traded hands, compared to its average volume of 122,518. The firm has a market capitalization of $124.71 million, a PE ratio of -10.88 and a beta of 0.42. KORU Medical Systems has a 1-year low of $1.98 and a 1-year high of $3.09. The company has a 50 day moving average price of $2.48 and a 200-day moving average price of $2.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.77 and a quick ratio of 3.27.

KORU Medical Systems (NASDAQ:KRMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $8.43 million during the quarter, compared to the consensus estimate of $7.52 million. KORU Medical Systems had a negative net margin of 38.16% and a negative return on equity of 20.82%. During the same period in the previous year, the firm posted ($0.05) earnings per share. As a group, equities research analysts expect that KORU Medical Systems will post -0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KRMD shares. B. Riley initiated coverage on shares of KORU Medical Systems in a research report on Thursday, July 25th. They set a “buy” rating and a $4.00 price objective for the company. Piper Sandler upped their price target on shares of KORU Medical Systems from $2.50 to $3.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRMD. Aaron Wealth Advisors LLC acquired a new position in shares of KORU Medical Systems during the second quarter worth approximately $28,000. Allspring Global Investments Holdings LLC bought a new position in shares of KORU Medical Systems in the second quarter valued at $28,000. Legato Capital Management LLC acquired a new position in shares of KORU Medical Systems during the second quarter valued at about $35,000. Virtu Financial LLC acquired a new position in shares of KORU Medical Systems during the first quarter valued at about $63,000. Finally, Advisor Resource Council bought a new stake in shares of KORU Medical Systems during the first quarter worth about $63,000. Institutional investors own 58.60% of the company’s stock.

KORU Medical Systems Company Profile

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.