KORU Medical Systems (NASDAQ:KRMD) Stock Price Up 2.1% - Here's Why

Key Points

• KORU Medical Systems (NASDAQ:KRMD) shares rose 2.1% to a last-traded price of $3.48, with a total volume of around 101,433 shares.
• Piper Sandler has downgraded the stock's target price from $4.50 to $3.50 while maintaining a "neutral" rating, although the consensus rating remains a "Buy" with an average target of $4.63.
• For the latest quarter, KORU Medical reported a loss of ($0.03) earnings per share, which was below analysts' expectations, despite revenue exceeding forecasts at $9.64 million.

KORU Medical Systems, Inc. (NASDAQ:KRMD - Get Free Report)'s stock price was up 2.1% on Tuesday . The company traded as high as $3.51 and last traded at $3.48. Approximately 101,433 shares changed hands during trading, a decline of 30% from the average daily volume of 144,819 shares. The stock had previously closed at $3.41.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on shares of KORU Medical Systems from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, May 8th. One 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 company's stock. According to MarketBeat.com, KORU Medical Systems has an average rating of "Buy" and a consensus price target of $4.63.

KORU Medical Systems Stock Up 0.6%

The firm has a market cap of $160.57 million, a P/E ratio of -31.64 and a beta of 0.47. The company's 50-day simple moving average is $3.31 and its 200 day simple moving average is $3.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.02.

KORU Medical Systems (NASDAQ:KRMD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). KORU Medical Systems had a negative return on equity of 30.43% and a negative net margin of 15.09%. The business had revenue of $9.64 million during the quarter, compared to analysts' expectations of $8.86 million. Research analysts anticipate that KORU Medical Systems, Inc. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On KORU Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of KORU Medical Systems by 2,770.7% in the 4th quarter. JPMorgan Chase & Co. now owns 17,712 shares of the company's stock worth $68,000 after buying an additional 17,095 shares in the last quarter. Vivaldi Capital Management LP purchased a new position in shares of KORU Medical Systems during the 4th quarter worth about $82,000. Balyasny Asset Management L.P. purchased a new position in shares of KORU Medical Systems during the 4th quarter worth about $84,000. Acadian Asset Management LLC purchased a new position in shares of KORU Medical Systems during the 1st quarter worth about $63,000. Finally, Raymond James Financial Inc. purchased a new position in shares of KORU Medical Systems during the 4th quarter worth about $118,000. 58.60% of the stock is owned by hedge funds and other institutional investors.

About KORU Medical Systems

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.