677,837 Shares of KULR Technology Group, Inc. $KULR Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 677,837 shares of KULR Technology Group during the second quarter, worth approximately $2.58 million and representing about 1.47% of the company. Institutional investors and hedge funds collectively owned 21.23% of KULR.
• KULR received a consensus “Buy” rating with a $7.00 average price target, although Litchfield Hills Research lowered its target from $8.00 to $7.00.
• The company reported weak quarterly results, including a $0.47 per-share loss versus an expected $0.08 loss and revenue of $2.08 million versus a $9.00 million estimate. Shares opened at $2.53, near the lower end of their 12-month range.

Bank of America Corp DE acquired a new stake in shares of KULR Technology Group, Inc. (NYSEAMERICAN:KULR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 677,837 shares of the company's stock, valued at approximately $2,583,000. Bank of America Corp DE owned approximately 1.47% of KULR Technology Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in shares of KULR Technology Group during the 2nd quarter worth approximately $3,081,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in KULR Technology Group in the second quarter valued at $916,000. Aristides Capital LLC acquired a new position in KULR Technology Group during the fourth quarter worth $160,000. Ieq Capital LLC acquired a new position in KULR Technology Group during the second quarter worth $98,000. Finally, Quantbot Technologies LP bought a new position in shares of KULR Technology Group during the second quarter valued at $68,000. 21.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Litchfield Hills Research reaffirmed a "buy" rating and issued a $7.00 target price (down from $8.00) on shares of KULR Technology Group in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $7.00.

KULR Technology Group Stock Performance

Shares of NYSEAMERICAN:KULR opened at $2.53 on Thursday. The business has a fifty day moving average of $2.57 and a 200-day moving average of $2.99. KULR Technology Group, Inc. has a twelve month low of $1.94 and a twelve month high of $6.00. The firm has a market cap of $117.09 million, a PE ratio of -1.14 and a beta of 2.30.

KULR Technology Group (NYSEAMERICAN:KULR - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.39). KULR Technology Group had a negative return on equity of 57.69% and a negative net margin of 607.65%.The company had revenue of $2.08 million during the quarter, compared to the consensus estimate of $9.00 million. On average, analysts anticipate that KULR Technology Group, Inc. will post -1.42 EPS for the current fiscal year.

About KULR Technology Group

KULR Technology Group, Inc develops advanced thermal-management and energy-storage technologies for batteries, electronics and other high-performance systems. Its solutions are designed to manage heat, improve safety and support the reliability of products used in aerospace, defense, space, transportation and industrial applications.

The company's offerings include carbon-fiber-based thermal-management materials and components, battery safety and containment systems, and the KULR ONE platform for designing, testing and producing high-performance battery packs.

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