KORE Group (NYSE:KORE) Issues Earnings Results

Key Points

• KORE reported a major earnings miss, posting EPS of ($2.84) versus analysts' ($0.53) expectation (a $2.31 shortfall) while revenue of $73.86 million slightly beat estimates of $70.50 million.
• The shares trade near their 52‑week high (opened at $9.00; 52‑week high $9.02) with a market cap around $158 million, but Wall Street's consensus is a "Reduce" rating with a $4.00 target, despite institutional ownership of about 57%.

KORE Group (NYSE:KORE - Get Free Report) issued its quarterly earnings data on Monday. The company reported ($2.84) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($2.31), FiscalAI reports. The business had revenue of $73.86 million during the quarter, compared to analysts' expectations of $70.50 million.

KORE Group Stock Performance

NYSE:KORE opened at $9.00 on Tuesday. KORE Group has a 52 week low of $2.00 and a 52 week high of $9.02. The firm has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $4.82. The firm has a market cap of $157.77 million, a price-to-earnings ratio of -2.51 and a beta of 1.58.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KORE shares. Wall Street Zen raised KORE Group to a "hold" rating in a research report on Saturday, January 17th. Weiss Ratings restated a "sell (d-)" rating on shares of KORE Group in a research note on Friday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $4.00.

Hedge Funds Weigh In On KORE Group

Several institutional investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in shares of KORE Group during the third quarter valued at approximately $30,000. One68 Global Capital LLC purchased a new position in KORE Group in the fourth quarter worth $59,000. State Street Corp grew its stake in KORE Group by 23.2% in the 4th quarter. State Street Corp now owns 29,217 shares of the company's stock valued at $123,000 after purchasing an additional 5,500 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of KORE Group by 14.5% during the 4th quarter. Renaissance Technologies LLC now owns 35,441 shares of the company's stock valued at $150,000 after purchasing an additional 4,500 shares during the last quarter. 57.45% of the stock is owned by institutional investors.

About KORE Group

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.

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