Insider Buying: KORE Group Holdings, Inc. (NYSE:KORE) CEO Buys 10,000 Shares of Stock

KORE Group Holdings, Inc. (NYSE:KORE – Get Rating) CEO Romil Bahl bought 10,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $1.46 per share, for a total transaction of $14,600.00. Following the purchase, the chief executive officer now owns 310,004 shares of the company’s stock, valued at approximately $452,605.84. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Romil Bahl also recently made the following trade(s):

• On Friday, May 12th, Romil Bahl bought 10,000 shares of KORE Group stock. The shares were acquired at an average cost of $1.14 per share, for a total transaction of $11,400.00.

KORE Group Stock Down 2.4 %

Shares of NYSE:KORE opened at $1.62 on Monday. KORE Group Holdings, Inc. has a 52-week low of $1.06 and a 52-week high of $4.90. The stock has a market cap of $123.99 million, a P/E ratio of -1.11 and a beta of 2.75. The business’s 50 day moving average is $1.26 and its 200 day moving average is $1.73. The company has a quick ratio of 1.67, a current ratio of 1.82 and a debt-to-equity ratio of 2.51.

KORE Group (NYSE:KORE – Get Rating) last announced its quarterly earnings data on Monday, March 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). KORE Group had a negative return on equity of 23.86% and a negative net margin of 41.99%. The firm had revenue of $62.42 million during the quarter, compared to the consensus estimate of $60.78 million. Sell-side analysts predict that KORE Group Holdings, Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on KORE shares. Morgan Stanley cut their target price on KORE Group from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 28th. Northland Securities cut their target price on KORE Group from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 28th.

Institutional Trading of KORE Group

A number of hedge funds have recently bought and sold shares of KORE. JPMorgan Chase & Co. lifted its holdings in KORE Group by 28.0% during the first quarter. JPMorgan Chase & Co. now owns 17,415 shares of the company’s stock worth $104,000 after buying an additional 3,805 shares during the period. Bank of New York Mellon Corp purchased a new stake in KORE Group during the first quarter worth $67,000. BlackRock Inc. lifted its holdings in KORE Group by 4.7% during the first quarter. BlackRock Inc. now owns 65,390 shares of the company’s stock worth $392,000 after buying an additional 2,951 shares during the period. State Street Corp lifted its holdings in KORE Group by 241.7% during the first quarter. State Street Corp now owns 52,964 shares of the company’s stock worth $318,000 after buying an additional 37,464 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in KORE Group by 50.6% during the first quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the company’s stock worth $175,000 after buying an additional 9,811 shares during the period. Hedge funds and other institutional investors own 34.88% of the company’s stock.

KORE Group Company Profile

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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.