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

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a significant increase in short interest in the month of 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. Currently, 1.2% of the company’s shares 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 Trading Up 11.0 %

KRMD traded up $0.29 during trading on Thursday, hitting $2.92. 35,361 shares of the stock were exchanged, compared to its average volume of 117,651. KORU Medical Systems has a 1 year low of $1.98 and a 1 year high of $3.09. The firm has a 50 day simple moving average of $2.55 and a 200 day simple moving average of $2.41. The firm has a market cap of $133.90 million, a price-to-earnings ratio of -10.43 and a beta of 0.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.27 and a current ratio of 3.77.

KORU Medical Systems (NASDAQ:KRMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $8.43 million during the quarter, compared to analysts’ expectations 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 business posted ($0.05) EPS. As a group, equities analysts expect that KORU Medical Systems will post -0.13 EPS for the current year.

Institutional Investors Weigh In On KORU Medical Systems

A number of hedge funds have recently made changes to their positions in KRMD. Archon Capital Management LLC lifted its stake in shares of KORU Medical Systems by 6.2% during the 1st quarter. Archon Capital Management LLC now owns 3,951,393 shares of the company’s stock worth $9,325,000 after purchasing an additional 230,517 shares during the last quarter. Meros Investment Management LP lifted its stake in shares of KORU Medical Systems by 20.7% during the 2nd quarter. Meros Investment Management LP now owns 804,380 shares of the company’s stock worth $2,132,000 after purchasing an additional 137,918 shares during the last quarter. First Light Asset Management LLC lifted its stake in shares of KORU Medical Systems by 1.1% during the 1st quarter. First Light Asset Management LLC now owns 5,220,990 shares of the company’s stock worth $12,322,000 after purchasing an additional 57,253 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of KORU Medical Systems by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 1,961,764 shares of the company’s stock worth $4,630,000 after purchasing an additional 51,890 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of KORU Medical Systems during the 2nd quarter worth $107,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.