KORE Group (NYSE:KORE) Shares to Reverse Split on Monday, July 1st

KORE Group Holdings, Inc. (NYSE:KORE)’s stock is going to reverse split before the market opens on Monday, July 1st. The 1-5 reverse split was announced on Monday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Monday, July 1st.

KORE Group Trading Up 3.7 %

Shares of NYSE KORE opened at $0.44 on Thursday. The company’s 50 day simple moving average is $0.70 and its 200 day simple moving average is $0.79. KORE Group has a fifty-two week low of $0.28 and a fifty-two week high of $1.59. The firm has a market capitalization of $36.36 million, a P/E ratio of -0.23 and a beta of 2.59. The company has a debt-to-equity ratio of 13.25, a current ratio of 1.37 and a quick ratio of 1.26.

KORE Group (NYSE:KORE) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). KORE Group had a negative net margin of 57.97% and a negative return on equity of 123.65%. The business had revenue of $75.98 million during the quarter, compared to analyst estimates of $73.66 million. On average, analysts predict that KORE Group will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and issued a $3.50 price objective on shares of KORE Group in a report on Friday, April 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.94.

Institutional Investors Weigh In On KORE Group

An institutional investor recently bought a new position in KORE Group stock. Worth Venture Partners LLC bought a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,038 shares of the company’s stock, valued at approximately $36,000. Institutional investors own 57.45% of the company’s stock.

KORE Group Company Profile

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.