KORU Medical Systems, Inc. (NASDAQ:KRMD) Short Interest Update

KORU Medical Systems, Inc. (NASDAQ:KRMD) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 463,900 shares, an increase of 8.8% from the October 15th total of 426,500 shares. Based on an average daily volume of 56,500 shares, the short-interest ratio is currently 8.2 days. Currently, 1.1% of the shares of the company are short sold.

Insider Buying and Selling at KORU Medical Systems

In related news, Director Joseph M. Jr. Manko bought 10,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was bought at an average price of $2.65 per share, for a total transaction of $26,500.00. Following the purchase, the director now owns 7,458,434 shares in the company, valued at approximately $19,764,850.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. First Light Asset Management LLC raised its position in KORU Medical Systems by 10.6% during the first quarter. First Light Asset Management LLC now owns 6,099,820 shares of the company’s stock valued at $17,445,000 after purchasing an additional 585,714 shares in the last quarter. BlackRock Inc. increased its position in KORU Medical Systems by 306.6% during the 2nd quarter. BlackRock Inc. now owns 1,405,912 shares of the company’s stock worth $4,850,000 after purchasing an additional 1,060,167 shares in the last quarter. Vanguard Group Inc. increased its position in KORU Medical Systems by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,345,904 shares of the company’s stock worth $3,001,000 after purchasing an additional 4,600 shares in the last quarter. B. Riley Asset Management LLC lifted its stake in KORU Medical Systems by 16.8% in the 4th quarter. B. Riley Asset Management LLC now owns 904,025 shares of the company’s stock valued at $3,227,000 after purchasing an additional 130,100 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in KORU Medical Systems by 109.9% in the second quarter. Geode Capital Management LLC now owns 711,643 shares of the company’s stock valued at $2,455,000 after buying an additional 372,628 shares in the last quarter. Institutional investors own 40.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KRMD. Lake Street Capital started coverage on KORU Medical Systems in a research note on Thursday, September 7th. They issued a “buy” rating and a $4.00 price target for the company. B. Riley began coverage on shares of KORU Medical Systems in a research report on Thursday, September 7th. They issued a “buy” rating and a $4.50 target price for the company. Finally, Piper Sandler cut their price objective on shares of KORU Medical Systems from $4.50 to $3.00 and set an “overweight” rating for the company in a report on Thursday, August 3rd.

KORU Medical Systems Price Performance

NASDAQ KRMD traded up $0.20 during midday trading on Friday, hitting $2.40. The company had a trading volume of 160,013 shares, compared to its average volume of 80,740. The firm has a 50-day moving average price of $2.52 and a 200-day moving average price of $3.02. The company has a market capitalization of $109.61 million, a PE ratio of -14.12 and a beta of 0.38. The company has a current ratio of 5.14, a quick ratio of 4.03 and a debt-to-equity ratio of 0.01. KORU Medical Systems has a twelve month low of $2.00 and a twelve month high of $4.48.

KORU Medical Systems Company Profile

KORU Medical Systems, Inc designs, manufactures, and markets portable medical devices primarily for the subcutaneous drug delivery market in the United States and internationally. It offers mechanical infusion product comprising the FREEDOM infusion systems that include the FREEDOM60 syringe driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing.