Kore Group Holdings (NYSE:KORE) Stock, Quote.Headers.trade-ideas

Kore Group Holdings

Kore Group Holdings Inc provides Internet of Things (IoT) solutions and services. In addition to providing critical services to customers globally, it enables them to manage, deploy, and scale their IoT applications and use cases. It offers connectivity services, location-based services, device solutions, and managed and professional services for the development and support of IoT technology for the Machine-to-Machine market. It derives revenue from IoT Connectivity services, IoT Solutions services, SIMs (IoT Connectivity), and IoT devices (IoT Solutions). Geographically, the company generates a majority of its revenue from the United States and the rest from other countries.

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KORE

KORE Group Holdings, Inc. (NYSE: KORE) came out with a quarterly loss of $0.99 per share versus the Zacks Consensus Estimate of a loss of $0.68. This compares to loss of $1.20 per share a year ago. These figures are adjusted for non-recurring items.

KORE Group Holdings, Inc. Reports Q2 Loss, Misses Revenue Estimates

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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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KORE Group Receives NYSE Non-Compliance Notice For Falling Below $50M Average Global Market Capitalization And Stockholders' Equity Threshold Over 30 Consecutive Trading Days

TD Cowen analyst Colby Synesael downgrades Kore Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) from Buy to Hold and announces $2 price target.

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TD Cowen Downgrades Kore Group Holdings to Hold, Announces $2 Price Target

KORE Group Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kore#NYSE">KORE</a>) came out with a quarterly loss of $0.99 per share versus the Zacks Consensus Estimate of a loss of $0.68. This compares to loss of $1.20 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -45.59%. A quarter ago, it was expected that this company would post a loss of $0.40 per share when it actually produced a loss of $0.70, delivering a surprise of -75%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Cerberus Telecom Acquisition, which belongs to the Zacks Internet - Software industry, posted revenues of $67.87 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 7.50%. This compares to year-ago revenues of $69.54 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Cerberus Telecom Acquisition shares have lost about 30.8% since the beginning of the year versus the S&amp;P 500&#39;s gain of 14.4%.
<h2>What&#39;s Next for Cerberus Telecom Acquisition?</h2>
While Cerberus Telecom Acquisition has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Cerberus Telecom Acquisition: unfavorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.61 on $75.87 million in revenues for the coming quarter and -$2.26 on $303.88 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Zoom Video Communications, is yet to report results for the quarter ended July 2024. The results are expected to be released on August 21.
This video-conferencing company is expected to post quarterly earnings of $1.21 per share in its upcoming report, which represents a year-over-year change of -9.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Zoom Video Communications&#39; revenues are expected to be $1.15 billion, up 0.9% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2322556/kore-group-holdings-inc-kore-reports-q2-loss-misses-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2322556">To read this article on Zacks.com click here.</a>

WIIM

KORE Group shares are trading lower after the company reported worse-than-expected Q2 financial results and cut its FY24 revenue guidance below estimates. Also, the company appointed a new CEO and announced plans to reduce its workforce by 19%.

Kore Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) reported quarterly losses of $(0.99) per share which missed the analyst consensus estimate of $(0.27) by 266.67 percent. The company reported quarterly sales of $67.868 million which missed the analyst consensus estimate of $75.934 million by 10.62 percent. This is a 2.40 percent decrease over sales of $69.536 million the same period last year.

Kore Group Holdings Q2 2024 Adj. EPS $(0.99) Misses $(0.27) Estimate, Sales $67.868M Miss $75.934M Estimate

Guidance

KORE Group Cuts FY24 Revenue Outlook From $300M - $305M To $275M - $285M, Est $304.01M

Management

KORE Group Appoints Ronald Totton, Effective August 14, 2024, As Its President And CEO; Totton Had Been Serving As Interim President And CEO Since May 3, 2024

The Company&rsquo;s Board of Directors approved the Restructuring Plan on July 29, 2024 and affected employees were informed of the plan beginning on August 14, 2024. The Company expects the Restructuring Plan to be substantially completed by December 31, 2024.
Total costs and cash expenditures for the Restructuring Plan are estimated to be in the range of $5 million to $6 million, substantially all of which are related to employee severance and benefits costs. The Company expects to incur most of these pre-tax reduction in force charges in the third quarter of 2024. Additionally, a portion of the savings from the reduction in force and other efficiency measures will be reinvested into growth initiatives focused on higher-growth and more profitable areas of our business.

KORE Group Reveals Efforts To Prioritize Its Growth Initiatives And Improve Operational Efficiency, Including Reduction In Force Plan Affecting 19% Of Its Employee Base

Shares of General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) fell sharply during Wednesday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39934099/general-dynamics-hits-high-revenue-but-faces-earnings-hiccup-in-q2-details">second-quarter EPS results</a>.
Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
General Dynamics shares declined 5.2% to $279.26 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>NuZee, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) jumped 192% to $3.01.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) rose 142.4% to $3.0799 after falling over 22% on Tuesday.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) surged 134% to $0.0609.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) gained 86% to $2.3300.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) gained 74.5% to $10.82.</li>
<li>Pieris Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIRS#NASDAQ">PIRS</a>) jumped 73.4% to $13.77 after the company announced that the company entered into a definitive merger agreement with Palvella Therapeutics.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 50% to $0.60 after licensing partner Pfizer&#8217;s Phase 3 AFFINE trial evaluating giroctocogene fitelparvovec met its primary endpoint.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) gained 28% to $3.2212.</li>
<li>KORE Group Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) gained 21.8% to $2.84.</li>
<li>NaaS Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAAS#NASDAQ">NAAS</a>) rose 20.5% to $6.87 after reporting unaudited 2024 second quarter and first half financial results.</li>
<li>PROG Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) climbed 20.4% to $41.71 after the company reported better-than-expected second-quarter financial results. Also, the company raised its FY24 guidance above estimates.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 19.4% to $94.69. The company on Monday announced a private placement financing.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) rose 18.4% to $3.71. Silynxcom received $815,000 in orders from Israel Defense Forces since July 2024.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares gained 16.4% to $1.0009 after the company announced steady progress in its due diligence efforts in its proposed reverse merger with COVIRIX Medical and anticipates completion by the end of August 2024.</li>
<li>Flex Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLEX#NASDAQ">FLEX</a>) gained 10.9% to $32.96 after the company reported better-than-expected second-quarter financial results.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) climbed 10.5% to $249.78 after the company reported better-than-expected second-quarter financial results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) gained 9.6% to $333.95 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9.2% to $113.18 after the company reported second-quarter financial results.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 8.7% to $0.1809. Allarity Therapeutics revealed on Monday it received a "Wells Notice" from the U.S. Securities and Exchange Commission (SEC).</li>
<li>Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) gained 7.9% to $18.61 after the company reported better-than-expected second-quarter adjusted EPS results.</li>
<li>Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) shares surged 7.5% to $113.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance above estimates.</li>
<li>Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALKS#NASDAQ">ALKS</a>) gained 7% to $26.69 after the company reported better-than-expected <a>second-quarter </a>financial results.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) gained 6.8% to $148.17 after the company reported better-than-expected second-quarter financial results and the company and raised its FY24 guidance above estimates. Also, the company announced it authorized a $1.5 billion share buyback.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) gained 3.1% to $18.78 following second-quarter earnings.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Azitra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZTR#NYSE">AZTR</a>) shares dipped 74.4% to $1.27. Azitra announced the pricing of $10.0 million public offering.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) fell 58% to $2.42.</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) dipped 43.8% to $4.25.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) fell 37.2% to $2.6199 after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) dipped 34.2% to $0.1414.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) declined 26.9% to $57.46 after the company reported worse-than-expected quarterly financial results. Also, the company issued its FY25 EPS guidance below estimates.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) shares fell 26.7% to $0.3717 as the company announced plans to close 71 locations across 13 states.</li>
<li>Vintage Wine Estates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VWE#NASDAQ">VWE</a>) fell 24.5% to $0.0868 after the company announced bankruptcy filing and voluntary delisting and SEC deregistration.</li>
<li>Snow Lake Resources Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITM#NASDAQ">LITM</a>) declined 24.2% to $0.7350 after the company issued an update on Black Lake Uranium Project.</li>
<li>AtlasClear Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NASDAQ">ATCH</a>) shares declined 23.8% to $0.4228 after gaining 11% on Tuesday.</li>
<li>Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) shares fell 22.7% to $2.7750 after the company reported pricing of $55.0 million public offering of common stock, warrants and pre-funded warrants.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) dipped 17.8% to $10.75 after the Phase 2 KINETIC 2 study of SAGE-324 did not demonstrate a statistically significant dose-response relationship on the primary endpoint.</li>
<li>Hawaiian Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) dipped 13% to $11.33.</li>
<li>SFL Corporation Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFL#NYSE">SFL</a>) shares fell 12.3% to $12.23 after the company announced an offering of 8 million common shares.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares fell 12% to $216.78. Tesla reported weaker-than-expected earnings for its second quarter, while sales topped estimates. The company reported second-quarter deliveries of 443,956 vehicles and production of 410,831 vehicles, down 5% and 14% year-over-year, respectively.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) dipped 11.3% to $31.90 as the company announced the launch of secondary public offering of ordinary shares.</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) fell 10.2% to $15.29.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) dipped 9.5% to $14.41.</li>
<li>Chijet Motor Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CJET#NASDAQ">CJET</a>) fell 9.3% to $4.61 after jumping 55% on Tuesday.</li>
<li>Allegro MicroSystems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>) dipped 9.1% to $25.14 after the company announced a primary offering of 25 million shares.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) shares declined 8.8% to $4.2150 after the company announced the departure of CCO Anil Kapur.</li>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) fell 8.4% to $92.45.</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) fell 8.2% to $56.97.</li>
<li>Deutsche Bank Aktiengesellschaft (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) shares fell 8% to $15.69 following second-quarter earnings.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) declined 8% to $14.25.</li>
<li>Weatherford International plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) dipped 7.6% to $123.57 after the company reported worse-than-expected second-quarter financial results.</li>
<li>Roper Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NYSE">ROP</a>) fell 7.4% to $532.08 after the company reported worse-than-expected second-quarter sales results and issued third-quarter adjusted EPS guidance below estimates.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) shares fell 7.1% to $0.5479 after gaining around 23% on Tuesday.</li>
<li>Fortive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTV#NYSE">FTV</a>) fell 6.9% to $71.36 after the company reported worse-than-expected second-quarter sales results and issued FY24 sales guidance below estimates.</li>
<li>Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell 5.5% to $367.84 after Piper Sandler downgraded the stock from an Overweight to Neutral and lowered its price target from $494 to $404.</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) shares declined 4.1% to $174.29. Alphabet reported upbeat earnings and sales results for its second quarter on Tuesday. The company also announced a cash dividend of 20 cents per share to be paid on Sept.16 to shareholders of record as of Sept. 9.</li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) shares fell 3.8% to $254.72 following third-quarter results.</li>
</ul>
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Why General Dynamics Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies. `
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Dolphin Entertainment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLPN#NASDAQ">DLPN</a>)</h3>
<ul>
<li>On May 14, Dolphin Entertainment announced first-quarter earnings that included $15.24 million in revenue, representing a 54% year-over-year increase. "By concentrating on organic expansion among our top-tier marketing entities and launching complementary Ventures at a steady pace, we believe we are strategically positioned for sustained growth in both revenue generation and Adjusted Operating Income, the crucial financial metric against which we gauge our performance," said Bill O'Dowd, CEO of Dolphin Entertainment. The company's stock fell around 14% over the past five days and has a <a href="https://www.benzinga.com/quote/DLPN">52-week low of $0.63</a>.</li>
<li>RSI Value: 23.18</li>
<li>DLPN Price Action: Shares of Altisource Portfolio Solutions fell 0.6% to close at $0.71 on Thursday.</li>
<li><a href="https://pro.benzinga.com/dashboard">Benzinga Pro's real-time newsfeed</a> alerted to latest Dolphin Entertainment news.</li>
</ul>
<h3 class="wp-block-heading">Dallasnews Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DALN#NASDAQ">DALN</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On May 15, DallasNews posted a first-quarter loss of 25 cents per share, versus a year-ago loss of 49 cents per share. Grant Moise, Chief Executive Officer, said, &#8220;I am pleased with the progress we saw in the first quarter reducing our adjusted operating loss 64 percent on a year-over-year basis. This improvement is consistent with the Company&#8217;s Return to Growth Plan and reassures me we are on the right path towards future profitability.&#8221; The company's stock fell around 15% over the past month. It <a href="https://www.benzinga.com/quote/DALN">has a 52-week low</a> of $3.19.</li>
<li>RSI Value: 24.03</li>
<li>DALN Price Action: Shares of Dallasnews gained 0.9% to close at $3.24 on Thursday.</li>
<li><a href="https://pro.benzinga.com/dashboard">Benzinga Pro's charting tool</a> helped identify the trend in Dallasnews stock.</li>
</ul>
<h3 class="wp-block-heading">KORE Group Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>)</h3>
<ul>
<li>On July 8, KORE Group named Bruce Gordon as Executive Vice President and Chief Operating Officer. The company's stock dipped around 55% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/KORE">low of $1.30</a>.</li>
<li>RSI Value: 26.37</li>
<li>KORE Price Action: Shares of KORE Group gained 7% to close at $1.52 on Thursday.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="https://pro.benzinga.com/dashboard">breakout in KORE Group</a> shares.</li>
</ul>
<h3 class="wp-block-heading">Podcastone Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODC#NASDAQ">PODC</a>)</h3>
<ul>
<li>On June 6, Litchfield Hills analyst Barry Sine initiated coverage on PodcastOne with a Buy rating and announced a price target of $5. The company's shares lost around 27% over the past month. The company's 52-week low is $1.20.</li>
<li>RSI Value: 28.17</li>
<li>PODC Price Action: Shares of Podcastone gained 5.4% to close at $1.35 on Thursday.</li>
<li>Benzinga Pro's earnings calendar was used to track <a href="https://pro.benzinga.com/dashboard">PODC upcoming earnings report</a>.</li>
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KORE Group Appoints Bruce Gordon As Executive Vice President And Chief Operating Officer, Effective July 2, 2024

KORE Group Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NASDAQ">KORE</a>) shares are trading lower by 16.8% to $0.49 during Monday&#8217;s session after the company late Friday announced a <a href="https://www.benzinga.com/pressreleases/24/06/n39443046/kore-to-effect-a-reverse-stock-split">1-for-5 reverse stock split</a> of its common stock, effective at 12:01 a.m. Eastern Time on July 1.
The reverse stock split aims to increase the stock&#8217;s per share price to meet NYSE&#8217;s minimum listing requirements and was approved by stockholders on June 12, and by the Board of Directors on June 21.
This split means every five existing shares will be reclassified into one new share, with proportional adjustments to outstanding equity awards and shares under the equity incentive plan. No fractional shares will be issued; instead, fractional shares will be rounded up to the next whole share.
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<h2 class="wp-block-heading">Should I Sell My KORE Stock?</h2>
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Kore Group Holdings have decreased by 64.28% in the past year. An investor who bought shares of Kore Group Holdings at the beginning of the year would take a loss of $0.33 per share if they sold it today. The stock has fallen 22.62% over the past month, meaning an investor who bought shares on May. 1 would see a capital loss of $0.29.
Kore Group Holdings shares have an all-time high of $8.07, representing 1549.29% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Kore Group Holdings stock currently has an RSI of 38.08, indicating neutral conditions.
For access to advanced charting and analysis tools and stock data, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a>
KORE has a 52-week high of $1.59 and a 52-week low of $0.32.

Why KORE Group Holdings Stock Is Trading Lower

KORE Group Holdings shares are trading lower after the company announced a 1-for-5 reverse stock split.

KORE Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) (&quot;KORE&quot; or the &quot;Company&quot;), the global pure-play Internet of Things (&quot;IoT&quot;) hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today announced that its Board of Directors has approved a 1-for-5 reverse stock split of the Company&#39;s common stock. The reverse stock split is expected to become effective at&nbsp;12:01 a.m. Eastern Time&nbsp;on&nbsp;July 1, 2024. The Company&#39;s common stock is expected to commence trading on a split-adjusted basis when the New York Stock Exchange (&quot;NYSE&quot;) opens on&nbsp;July 1, 2024&nbsp;under the existing trading symbol &quot;KORE.&quot; The new CUSIP number for the Company&#39;s common stock following the reverse stock split will be 50066V 305.
<a href="https://mma.prnewswire.com/media/1571455/KORE_Logo.html" target="_blank"><img alt="KORE is now trading on the NYSE under ticker symbol KORE (PRNewsfoto/KORE Wireless)" src="https://mma.prnewswire.com/media/1571455/KORE_Logo.jpg" /></a>
The primary goal of the reverse stock split is to increase the per share market price of the Company&#39;s common stock to meet the minimum per share price requirement for continued listing on the NYSE. The reverse stock split was approved by the Company&#39;s stockholders at its annual meeting of stockholders held on&nbsp;June 12, 2024. On&nbsp;June 21, 2024, the Company&#39;s Board of Directors approved the reverse stock split at the ratio of 1-for-5.&nbsp;
As a result of the reverse stock split, every five shares of the Company&#39;s common stock issued and outstanding will be automatically reclassified into one new share of the Company&#39;s common stock. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company&#39;s outstanding equity awards, as applicable, as well as to the number of shares issuable under the Company&#39;s equity incentive plan. The common stock issued pursuant to the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not decrease the number of authorized shares of common stock or otherwise affect the par value of the common stock.
No fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive fractional shares as a result of the reverse stock split will automatically, in lieu of a fractional share, be entitled, to have their fractional shares rounded up to the next whole share and receive an additional whole share of common stock in lieu of such fractional shares.
Continental Stock Transfer &amp; Trust (&quot;Continental&quot;), the Company&#39;s transfer agent, is acting as the exchange agent for the reverse stock split. Stockholders holding their shares electronically in book-entry form and stockholders who hold their shares through a bank, broker or other nominee will not need to take any action. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the reverse stock split.

Stock Split

Reported Earlier, KORE Announces 1-for-5 Reverse Stock Split to Meet NYSE Listing Requirements

Kore Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) reported quarterly losses of $(0.19) per share which missed the analyst consensus estimate of $(0.15) by 26.67 percent. This is a 20.83 percent increase over losses of $(0.24) per share from the same period last year. The company reported quarterly sales of $75.975 million which beat the analyst consensus estimate of $73.920 million by 2.78 percent. This is a 15.16 percent increase over sales of $65.975 million the same period last year.

Earnings Beats

Kore Group Holdings Q1 2024 GAAP EPS $(0.19) Misses $(0.15) Estimate, Sales $75.975M Beat $73.920M Estimate

KORE Group Shares Resume Trade

Romil Bahl to step down and Ronald Totton named as Interim President and CEO
ATLANTA, April 29, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE:<a href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) ("KORE," the "Company," "we" or "our"), a global leader in Internet of Things ("IoT") Solutions and pioneering IoT hyperscaler, and provider of IoT Connectivity, Solutions and Analytics, announced today that Romil Bahl will be stepping down as President and Chief Executive Officer and that the Company's Board of Directors (the "Board") has named Ronald Totton as the Company's Interim President and Chief Executive Officer, effective May 3, 2024.
Romil Bahl has served as KORE's President and CEO since 2017.&nbsp; He has led the KORE 3.0 Vision and Growth Strategy that has enabled the Company to triple the number of IoT Connected Devices it supports globally, expanded its portfolio of services, and guided KORE to five consecutive years in the Gartner Leaders quadrant for IoT-managed services. Mr. Bahl also led the transformation of the Company resulting in KORE's listing on the New York Stock Exchange. In mutual agreement with the Board, he will transition from his role as President and CEO on May 3, 2024.
"Romil has been a fantastic leader for us," said Tim Donahue, Chairman of the Board. "From our first meeting back in 2020, I have had the utmost respect for Romil's work ethic and integrity, his strategic thinking, and his focus on the customer value proposition."
"It has been an honor and a privilege to lead KORE over the last six and a half years," said Mr. Bahl. &nbsp;"I would like to thank our global team of IoTers, without whom none of our successes would have been possible. KORE is now well positioned for the Decade of IoT, with an industry-leading eSIM proposition, pre-configured solutions in health, fleet, and high bandwidth applications, and a one-stop shop of services that help simplify IoT deployments."
Mr. Totton, who will succeed Mr. Bahl, brings nearly three decades of strategy, finance, sales, and leadership experience to the President and CEO role at KORE, including many years in the Technology, Media, and Telecoms sector. Prior to joining KORE, Mr. Totton served as Chief Executive Officer of ST Telemedia Cloud (Temasek Holdings) and Executive Vice President, Corporate Development at ST Telemedia Group. &nbsp;He previously held leadership roles at BT Global Services, including Chief Executive Officer, Northern, Central and Eastern Europe, and Russia as well as Managing Director, South East Asia.&nbsp; In addition to his executive roles, Totton held a number of Directorship roles for both ST Telemedia Group and BT Global Services.
"Ron is an accomplished executive in the telecom sector and beyond," said Mr. Donahue. "He has a track record of leading innovative businesses toward growth and transformation, and he will serve KORE's stakeholders well. We are very fortunate to have a leader of Ron's caliber join the KORE team."
Mr. Totton stated, "KORE has long been recognized as a pioneer in the IoT space – an innovative and flexible partner that creates meaningful impact for customers. &nbsp;KORE's next chapter builds on this foundation to even better serve our customers and deliver enhanced value for stockholders.&nbsp; There are incredible opportunities ahead for the company and this team." &nbsp;Mr. Totton today joins the Company as an executive advisor until May 3, 2024, when he will assume the role of interim President and CEO.
KORE's management change is not the result of any material or unexpected financial events.

KORE Announces President And CEO Transition; Romil Bahl To Step Down And Ronald Totton Named As Interim President And CEO, Effective May 3, 2024

KORE Group Holdings Shares Halted, News Pending

Roth MKM analyst Scott Searle maintains Kore Group Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KORE#NYSE">KORE</a>) with a Buy and maintains $3.5 price target.

Roth MKM Maintains Buy on Kore Group Holdings, Maintains $3.5 Price Target

KORE Group Holdings Sees FY24 Revenue $300M-$305M vs $324.2M Est.

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Kore Group Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/kore-stock-quote/">KORE</a>) just reported results for the second quarter of 2023.<ul><li>Kore Group Holdings reported earnings per share of -$1.20. This was below the analyst estimate for EPS of -45 cents.</li><li>The company reported revenue of $69.54 million.</li><li>This was 3.54% worse than the analyst estimate for revenue of $72.09 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/07/kore-stock-earnings-kore-group-holdings-for-q2-of-2023/">KORE Stock Earnings: Kore Group Holdings Misses EPS, Misses Revenue for Q2 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

KORE Stock Earnings: Kore Group Holdings Misses EPS, Misses Revenue for Q2 2023

In a report released on July 1, Meta Marshall from Morgan Stanley maintained a Hold rating on KORE Group Holdings (KORE – Research Report), with a ...

Morgan Stanley Keeps Their Hold Rating on KORE Group Holdings (KORE)

KORE appoints Bruce Gordon as COO

KORE Group Holdings (KORE) has provided an update. Bruce Gordon has been appointed as the Executive Vice President and Chief Operating Officer of K...

KORE Group Appoints New EVP/COO With Incentive-Based Agreement

KORE Group Holdings (KORE) has issued an announcement. In a significant move to enhance growth and efficiency, a company recently announced a Restr...

KORE Group Initiates Restructuring and Leadership Changes

KORE Group Holdings reports Q2 results

KORE Group Holdings, Inc. (KORE) Q2 2024 Earnings Call Transcript

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Kore Group Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/kore-stock-quote/">KORE</a>) just reported results for the second quarter of 2024.<ul><li>Kore Group Holdings reported earnings per share of -99 cents. This was below the analyst estimate for EPS of -36 cents.</li><li>The company reported revenue of $67.87 million.</li><li>This was 7.51% worse than the analyst estimate for revenue of $73.38 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/kore-stock-earnings-kore-group-holdings-for-q2-of-2024/">KORE Stock Earnings: Kore Group Holdings Misses EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

KORE Stock Earnings: Kore Group Holdings Misses EPS, Misses Revenue for Q2 2024

KORE receives NYSE non-compliance notice

KORE Group Holdings ( ($KORE) ) just unveiled an update. KORE Group Holdings, Inc. received notification from the NYSE of non-compliance with listi...

KORE Group Strives to Address NYSE Compliance Hurdle

KORGW

Press Releases

KORE Honored by Cradlepoint as Enterprise Partner of the Year

KORE to Effect a Reverse Stock Split

KORE Helps mCare Digital Launch the Next Generation of Personal Emergency Technology

KORE Announces Appointment of Bruce Gordon as Executive Vice President and Chief Operating Officer

KORE Receives 2024 IoT Evolution Product of the Year Award

KORE to Report Second Quarter 2024 Results on August 15, 2024

KORE Receives 2024 IoT LPWAN Excellence Award

KORE Reports Second Quarter 2024 Results; Announces Restructuring Plan Focused on Driving Profitable Growth

KORE and Social Mobile Collaborate on Mobility Solutions for Connected Health

KORE Receives Continued Listing Standard Notice from NYSE

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Kore Group Holdings (KORE) Forecast

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