Streetbeat News

KORE

KORE Group Holdings, Inc.

https://www.korewireless.com

Industry

Telecommunications Services

KORE Group Holdings, Inc. provides Internet of Things (IoT) services and solutions worldwide. It offers connectivity, location-based, device solutions, and managed and professional services that are used in the development and support of IoT technology for the Machine-to-Machine market. The company provides Connectivity-as-a-Service; IoT solutions and analytics to fleet tracking companies; and asset monitoring, communications, and industrial IoT services. It serves customers operating in a range of sectors, including healthcare, fleet and vehicle management, asset management, communication services, and industrial/manufacturing. The company was founded in 2002 and is headquartered in Alpharetta, Georgia.

Open

2.57

Mkt cap

44M

Volume

604

High

2.57

P/E Ratio

-0.32

52-wk high

4.88

Low

2.57

Div yield

N/A

52-wk low

1.10

KORE Group has revised its FY24 revenue outlook downward from $300M-$305M to $275M-$285M, which is below the estimated $304.01M.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:38 am

KORE Group has appointed Ronald Totton as its President and CEO, effective August 14, 2024. Totton had been serving as the interim President and CEO since May 3, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:35 am

KORE Group has announced a Restructuring Plan to prioritize growth initiatives and improve operational efficiency, which includes a reduction in force affecting 19% of its employees. The plan, approved on July 29, 2024, is expected to be completed by December 31, 2024, with estimated costs between $5 million and $6 million. Savings from the reduction will be reinvested into higher-growth and more profitable areas.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:33 am

General Dynamics Corporation (NYSE:GD) shares fell 5.2% after reporting worse-than-expected Q2 EPS results despite revenue growth. Other notable stock movements include significant gains for NuZee, Inc. (NASDAQ:NUZE) and Dermata Therapeutics, Inc. (NASDAQ:DRMA), and declines for Azitra, Inc. (NYSE:AZTR) and Tesla, Inc. (NASDAQ:TSLA).

Portfolio Pulse from Avi Kapoor

July 24, 2024 | 5:26 pm

KORE Group has appointed Bruce Gordon as the new Executive Vice President and Chief Operating Officer, effective July 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 08, 2024 | 12:13 pm

KORE Group Holdings Inc (NASDAQ:KORE) shares are down 16.8% to $0.49 after announcing a 1-for-5 reverse stock split to meet NYSE's minimum listing requirements. The split, effective July 1, aims to increase the stock's per share price. KORE shares have decreased by 64.28% in the past year and have a 52-week high of $1.59 and a low of $0.32.

Portfolio Pulse from Henry Khederian

June 24, 2024 | 5:49 pm

KORE Group Holdings shares are trading lower following the announcement of a 1-for-5 reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 3:32 pm

KORE Group Holdings, Inc. (NYSE:KORE) announced a 1-for-5 reverse stock split to meet NYSE listing requirements. The split will be effective on July 1, 2024, and aims to increase the per share market price. The stock will trade on a split-adjusted basis under the symbol 'KORE'.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 7:26 am

Kore Group Holdings (NYSE:KORE) reported Q1 2024 GAAP EPS of $(0.19), missing the $(0.15) estimate, but sales of $75.975M beat the $73.920M estimate. EPS improved from $(0.24) last year, and sales increased by 15.16% from $65.975M.

Portfolio Pulse from Benzinga Newsdesk

May 15, 2024 | 9:14 pm

Trading of KORE Group shares has resumed after a temporary halt. This development is crucial for investors monitoring the stock's performance and market sentiment.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 2:18 pm

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