KULR Technology Group (NYSEAMERICAN:KULR) Issues Earnings Results

Key Points

• KULR Technology Group significantly missed quarterly expectations, reporting a loss of $0.47 per share versus the consensus loss estimate of $0.08. Revenue was $2.08 million, well below analysts’ $9.00 million forecast.
• The company’s profitability metrics remained weak, with a negative net margin of 383.52% and negative return on equity of 45.70%.
• KULR shares were flat at $2.97 following the results, with the stock trading between $1.94 and $6.30 over the past year. Institutional investors and hedge funds own 21.23% of the company.

KULR Technology Group (NYSEAMERICAN:KULR - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.39), FiscalAI reports. The firm had revenue of $2.08 million during the quarter, compared to analysts' expectations of $9.00 million. KULR Technology Group had a negative net margin of 383.52% and a negative return on equity of 45.70%.

KULR Technology Group Price Performance

Shares of NYSEAMERICAN:KULR remained flat at $2.97 during trading on Thursday. The company had a trading volume of 1,942,142 shares, compared to its average volume of 1,867,590. KULR Technology Group has a fifty-two week low of $1.94 and a fifty-two week high of $6.30. The firm's fifty day simple moving average is $3.30 and its 200-day simple moving average is $3.13. The stock has a market capitalization of $137.39 million, a P/E ratio of -1.94 and a beta of 2.31.

Hedge Funds Weigh In On KULR Technology Group

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in KULR Technology Group by 201.7% in the 4th quarter. Russell Investments Group Ltd. now owns 9,167 shares of the company's stock worth $27,000 after buying an additional 6,129 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of KULR Technology Group by 147.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,956 shares of the company's stock valued at $29,000 after purchasing an additional 4,150 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of KULR Technology Group in the 3rd quarter worth approximately $42,000. LPL Financial LLC grew its stake in shares of KULR Technology Group by 51.1% in the 4th quarter. LPL Financial LLC now owns 16,158 shares of the company's stock worth $48,000 after purchasing an additional 5,466 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in KULR Technology Group by 62.7% during the fourth quarter. AQR Capital Management LLC now owns 23,614 shares of the company's stock worth $70,000 after buying an additional 9,098 shares in the last quarter. 21.23% of the stock is owned by institutional investors and hedge funds.

About KULR Technology Group

KULR Technology Group, Inc, through its subsidiary, KULR Technology Corporation, develops and commercializes thermal management technologies for electronics, batteries, and other components applications in the United States. It provides lithium-ion battery thermal runaway shields; automated battery cell screening and test systems; cellchecks; safecases; fiber thermal interface materials; phase change material heat sinks; internal short circuit devices; and CRUX cathodes. The company's technologies are used in electric vehicles, energy storage, battery recycling transportation, cloud computing, and 5G communication devices.

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