KORE Group (KORE) Scheduled to Post Quarterly Earnings on Thursday

KORE Group (NYSE:KOREGet Rating) will be announcing its earnings results after the market closes on Thursday, August 11th. Analysts expect the company to announce earnings of ($0.07) per share for the quarter. KORE Group has set its FY 2022 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

KORE Group (NYSE:KOREGet Rating) last posted its quarterly earnings results on Monday, May 16th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The firm had revenue of $68.94 million during the quarter, compared to the consensus estimate of $62.47 million. On average, analysts expect KORE Group to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

KORE Group Price Performance

KORE opened at $2.75 on Thursday. KORE Group has a fifty-two week low of $2.51 and a fifty-two week high of $9.50. The business has a 50-day moving average of $3.33 and a 200-day moving average of $4.56. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 1.51.

Hedge Funds Weigh In On KORE Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in KORE Group by 4.7% in the 1st quarter. BlackRock Inc. now owns 65,390 shares of the company’s stock valued at $392,000 after purchasing an additional 2,951 shares during the last quarter. State Street Corp raised its position in KORE Group by 241.7% in the 1st quarter. State Street Corp now owns 52,964 shares of the company’s stock valued at $318,000 after purchasing an additional 37,464 shares during the last quarter. Goldman Sachs Group Inc. raised its position in KORE Group by 50.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the company’s stock valued at $175,000 after purchasing an additional 9,811 shares during the last quarter. Royal Bank of Canada raised its position in KORE Group by 59.7% in the 1st quarter. Royal Bank of Canada now owns 22,231 shares of the company’s stock valued at $134,000 after purchasing an additional 8,310 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in KORE Group by 28.0% in the 1st quarter. JPMorgan Chase & Co. now owns 17,415 shares of the company’s stock valued at $104,000 after purchasing an additional 3,805 shares during the last quarter. Institutional investors own 65.83% of the company’s stock.

Analyst Ratings Changes

KORE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on KORE Group from $7.50 to $6.00 in a report on Tuesday, May 17th. Morgan Stanley lowered their price objective on KORE Group to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 17th.

About KORE Group

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KORE Group Holdings, Inc provides Internet of Things (IoT) services and solutions worldwide. It offers connectivity, location-based, device solutions, and managed and professional services that are used in the development and support of IoT technology for the Machine-to-Machine market. The company provides Connectivity-as-a-Service; IoT solutions and analytics to fleet tracking companies; and asset monitoring, communications, and industrial IoT services.

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