KORU Medical Systems, Inc. (NASDAQ:KRMD) Sees Large Decline in Short Interest

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 341,400 shares, a decrease of 35.0% from the April 30th total of 525,200 shares. Based on an average daily volume of 151,100 shares, the short-interest ratio is currently 2.3 days. Approximately 0.8% of the shares of the company are short sold.

Institutional Investors Weigh In On KORU Medical Systems

A number of hedge funds have recently modified their holdings of the business. Topline Capital Management LLC bought a new position in KORU Medical Systems in the fourth quarter valued at approximately $16,660,000. First Light Asset Management LLC raised its stake in shares of KORU Medical Systems by 5.7% during the 4th quarter. First Light Asset Management LLC now owns 5,915,434 shares of the company's stock worth $22,774,000 after purchasing an additional 316,509 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of KORU Medical Systems by 189.5% in the first quarter. Goldman Sachs Group Inc. now owns 242,781 shares of the company's stock valued at $617,000 after buying an additional 158,914 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in KORU Medical Systems by 220.5% during the first quarter. Russell Investments Group Ltd. now owns 214,908 shares of the company's stock worth $546,000 after buying an additional 147,857 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of KORU Medical Systems by 136.7% in the first quarter. Jane Street Group LLC now owns 163,137 shares of the company's stock valued at $414,000 after buying an additional 94,214 shares during the period. Institutional investors and hedge funds own 58.60% of the company's stock.

Analyst Upgrades and Downgrades

KRMD has been the subject of several research reports. B. Riley upgraded shares of KORU Medical Systems to a "strong-buy" rating in a research note on Thursday, March 13th. Piper Sandler dropped their price target on shares of KORU Medical Systems from $4.50 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, KORU Medical Systems currently has a consensus rating of "Buy" and a consensus target price of $4.50.

KORU Medical Systems Trading Up 1.4%

Shares of NASDAQ:KRMD traded up $0.04 during mid-day trading on Wednesday, reaching $2.88. The stock had a trading volume of 70,676 shares, compared to its average volume of 173,913. The firm has a market cap of $132.89 million, a PE ratio of -11.52 and a beta of 0.39. The firm has a 50 day simple moving average of $2.63 and a two-hundred day simple moving average of $3.40. The company has a current ratio of 2.99, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. KORU Medical Systems has a twelve month low of $1.86 and a twelve month high of $5.05.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). KORU Medical Systems had a negative return on equity of 24.60% and a negative net margin of 37.42%. The firm had revenue of $9.64 million for the quarter, compared to the consensus estimate of $8.86 million. On average, research analysts predict that KORU Medical Systems will post -0.13 EPS for the current fiscal year.

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.