KORU Medical Systems (NASDAQ:KRMD) Shares Up 2.2% - Here's What Happened

Key Points

• KORU Medical Systems shares rose by 2.2% to $4.14 amid trading with a volume significantly below the average.
• Analysts maintain a mixed outlook for the stock, with an average rating of "Moderate Buy" and a consensus price target of $4.63.
• The company reported positive earnings results, with revenue exceeding expectations at $10.20 million and an earnings per share (EPS) of $0.01, beating forecasts by $0.04.

Shares of KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report) shot up 2.2% on Monday . The company traded as high as $4.15 and last traded at $4.14. 35,302 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 83,359 shares. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of KORU Medical Systems in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, KORU Medical Systems has an average rating of "Moderate Buy" and a consensus price target of $4.63.

KORU Medical Systems Stock Performance

The stock has a 50 day moving average price of $4.07 and a two-hundred day moving average price of $3.41. The company has a current ratio of 2.91, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The company has a market cap of $191.43 million, a price-to-earnings ratio of -46.00 and a beta of 0.49.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.04. KORU Medical Systems had a negative net margin of 12.24% and a negative return on equity of 26.77%. The business had revenue of $10.20 million during the quarter, compared to analysts' expectations of $9.46 million. Analysts predict that KORU Medical Systems, Inc. will post -0.13 EPS for the current year.

Institutional Trading of KORU Medical Systems

A number of large investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at $59,000. First Light Asset Management LLC increased its position in shares of KORU Medical Systems by 5.1% in the 2nd quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company's stock valued at $16,760,000 after buying an additional 226,700 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at $83,000. Archon Capital Management LLC increased its position in shares of KORU Medical Systems by 23.5% in the 2nd quarter. Archon Capital Management LLC now owns 700,147 shares of the company's stock valued at $2,507,000 after buying an additional 133,277 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of KORU Medical Systems in the 2nd quarter valued at $80,000. Institutional investors own 58.60% of the company's stock.

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.

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