Short Interest in KORU Medical Systems, Inc. (NASDAQ:KRMD) Decreases By 12.6%

KORU Medical Systems, Inc. (NASDAQ:KRMD) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 372,600 shares, a decrease of 12.6% from the December 15th total of 426,400 shares. Based on an average daily volume of 67,100 shares, the short-interest ratio is presently 5.6 days. Approximately 0.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On KORU Medical Systems

A number of institutional investors have recently bought and sold shares of the stock. Empire Financial Management Company LLC acquired a new position in shares of KORU Medical Systems during the 3rd quarter valued at $259,000. Geode Capital Management LLC lifted its stake in shares of KORU Medical Systems by 6.5% during the third quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock worth $1,262,000 after purchasing an additional 28,323 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of KORU Medical Systems during the third quarter worth about $34,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of KORU Medical Systems by 77.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock worth $168,000 after buying an additional 26,860 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of KORU Medical Systems in the second quarter valued at about $107,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

KORU Medical Systems Trading Up 2.3 %

KRMD stock traded up $0.09 during midday trading on Friday, hitting $4.09. The stock had a trading volume of 192,961 shares, compared to its average volume of 88,187. KORU Medical Systems has a 12-month low of $1.98 and a 12-month high of $4.60. The firm has a market cap of $187.49 million, a PE ratio of -16.36 and a beta of 0.45. The company’s 50-day moving average price is $3.82 and its 200 day moving average price is $2.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.99 and a quick ratio of 2.37.

Analyst Upgrades and Downgrades

KRMD has been the subject of several recent research reports. Craig Hallum raised their target price on shares of KORU Medical Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler raised their price objective on shares of KORU Medical Systems from $3.00 to $3.50 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Canaccord Genuity Group upped their target price on KORU Medical Systems from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Lake Street Capital increased their target price on KORU Medical Systems from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $4.50.

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.