KORE Group (NYSE:KORE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of KORE Group (NYSE:KORE) to a hold rating in a research report released on Saturday.

A number of other brokerages have also weighed in on KORE. TD Cowen raised their price objective on KORE Group from $3.00 to $5.00 and gave the company a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of KORE Group in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.00.

KORE Group Stock Down 2.9%

NYSE:KORE opened at $4.77 on Friday. The business’s 50-day simple moving average is $4.39 and its two-hundred day simple moving average is $3.29. KORE Group has a 52 week low of $1.95 and a 52 week high of $5.03. The stock has a market cap of $83.67 million, a PE ratio of -1.33 and a beta of 1.72.

Hedge Funds Weigh In On KORE Group

An institutional investor recently bought a new position in KORE Group stock. Diversified Trust Co purchased a new stake in KORE Group Holdings, Inc. (NYSE:KORE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 250,000 shares of the company’s stock, valued at approximately $598,000. Diversified Trust Co owned approximately 1.46% of KORE Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.45% of the company’s stock.

KORE Group Company Profile

KORE Group (NYSE: KORE) is a global provider of Internet of Things (IoT) connectivity and managed services, helping enterprises deploy, secure and scale their IoT applications. The company offers a comprehensive suite of solutions that includes cellular, satellite and Low-Power Wide-Area Network (LPWAN) connectivity, multi-network SIM management, eSIM provisioning and cloud-based IoT platforms. Through its unified approach, KORE enables businesses to streamline the complexities of device onboarding, monitoring and lifecycle management across diverse geographies.

Founded in 2002 and headquartered in Atlanta, Georgia, KORE has grown through a combination of organic innovation and strategic acquisitions to become one of the world’s largest independent IoT service providers.