KORU Medical Systems (NASDAQ:KRMD) Shares Up 0.7% - Time to Buy?

Key Points

• KORU Medical Systems' share price increased by 0.7% to $4.15, despite a significant decline in trading volume, down 58% from average levels.
• Analysts from Piper Sandler have reduced their price target on the stock to $3.50 and currently hold a "neutral" rating, although the overall consensus remains a "Buy" with a target price of $4.63.
• Institutional investors own 58.60% of KORU Medical Systems, with several adding to their stakes recently, indicating strong institutional interest in the company.

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report)'s stock price was up 0.7% on Wednesday . The stock traded as high as $4.18 and last traded at $4.15. Approximately 54,688 shares changed hands during trading, a decline of 58% from the average daily volume of 129,679 shares. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on shares of KORU Medical Systems from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $4.63.

KORU Medical Systems Price Performance

The firm's fifty day moving average price is $3.65 and its 200 day moving average price is $3.21. The company has a quick ratio of 2.25, a current ratio of 2.91 and a debt-to-equity ratio of 0.01. The stock has a market cap of $196.98 million, a PE ratio of -47.33 and a beta of 0.47.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $10.20 million for the quarter, compared to the consensus estimate of $9.46 million. As a group, equities analysts expect that KORU Medical Systems, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On KORU Medical Systems

Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new position in KORU Medical Systems during the second quarter valued at $59,000. First Light Asset Management LLC boosted its stake in shares of KORU Medical Systems by 5.1% during the second quarter. First Light Asset Management LLC now owns 4,681,626 shares of the company's stock valued at $16,760,000 after purchasing an additional 226,700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in KORU Medical Systems in the second quarter worth about $83,000. Archon Capital Management LLC lifted its stake in KORU Medical Systems by 23.5% in the second quarter. Archon Capital Management LLC now owns 700,147 shares of the company's stock worth $2,507,000 after acquiring an additional 133,277 shares during the period. Finally, Invesco Ltd. purchased a new stake in KORU Medical Systems in the second quarter worth about $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.