Short Interest in KORU Medical Systems, Inc. (NASDAQ:KRMD) Rises By 34.8%

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 506,600 shares, an increase of 34.8% from the February 13th total of 375,900 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 174,800 shares, the short-interest ratio is currently 2.9 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of KORU Medical Systems by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 462,128 shares of the company’s stock valued at $1,262,000 after buying an additional 28,323 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in KORU Medical Systems in the 4th quarter valued at about $104,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in KORU Medical Systems by 77.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,412 shares of the company’s stock valued at $168,000 after purchasing an additional 26,860 shares during the last quarter. Calamos Advisors LLC bought a new stake in KORU Medical Systems in the 4th quarter valued at about $250,000. Finally, XTX Topco Ltd bought a new stake in KORU Medical Systems in the 3rd quarter valued at about $34,000. 58.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KRMD has been the subject of a number of recent analyst reports. Lake Street Capital raised their price target on shares of KORU Medical Systems from $4.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Piper Sandler reaffirmed a “neutral” rating and set a $4.50 price target on shares of KORU Medical Systems in a report on Friday, February 14th. Craig Hallum raised their price target on shares of KORU Medical Systems from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, B. Riley raised shares of KORU Medical Systems to a “strong-buy” rating in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $4.70.

KORU Medical Systems Stock Performance

Shares of NASDAQ KRMD traded down $0.05 during midday trading on Tuesday, hitting $2.92. The company’s stock had a trading volume of 23,265 shares, compared to its average volume of 135,660. KORU Medical Systems has a 1-year low of $2.04 and a 1-year high of $5.05. The firm’s fifty day moving average price is $3.92 and its 200-day moving average price is $3.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.99. The firm has a market cap of $133.84 million, a P/E ratio of -11.50 and a beta of 0.74.

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.