KORE Group (NYSE:KORE) Trading 3.8% Higher – Here’s What Happened

KORE Group Holdings, Inc. (NYSE:KORE)’s share price shot up 3.8% on Tuesday . The company traded as high as $2.67 and last traded at $2.57. 42,616 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 89,591 shares. The stock had previously closed at $2.47.

Analysts Set New Price Targets

Separately, TD Cowen boosted their price target on KORE Group from $2.00 to $2.50 and gave the company a “hold” rating in a research report on Wednesday, November 20th.

KORE Group Stock Up 3.8 %

The stock has a market cap of $43.63 million, a PE ratio of -0.36 and a beta of 1.88. The company’s fifty day moving average is $2.15 and its 200 day moving average is $2.17.

Hedge Funds Weigh In On KORE Group

A hedge fund recently bought a new stake in KORE Group stock. Vectors Research Management LLC purchased a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 34,430 shares of the company’s stock, valued at approximately $111,000. Vectors Research Management LLC owned approximately 0.20% of KORE Group at the end of the most recent quarter. 57.45% of the stock is currently owned by institutional investors.

About KORE Group

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.