KULR Technology Group (NYSEAMERICAN:KULR) Trading 4.9% Higher - Here's Why

Key Points

• KULR Technology Group shares rose 4.9% on Monday, trading as high as $2.82 after closing at $2.63 the prior day. About 937,274 shares changed hands, well below its average session volume.
• The company reported weak recent quarterly results, with EPS of -$0.61 versus expectations of -$0.08 and revenue of $4.85 million, missing analyst estimates of $8.50 million.
• Institutional ownership remains modest, with hedge funds and other institutional investors holding about 21.23% of the stock, while several firms recently increased or initiated positions.

KULR Technology Group, Inc. (NYSEAMERICAN:KULR - Get Free Report) shares rose 4.9% on Monday . The stock traded as high as $2.82 and last traded at $2.76. Approximately 937,274 shares were traded during trading, a decline of 44% from the average session volume of 1,669,184 shares. The stock had previously closed at $2.63.

KULR Technology Group Stock Performance

The company has a market capitalization of $127.68 million, a P/E ratio of -1.80 and a beta of 2.26. The business's fifty day simple moving average is $3.81 and its 200-day simple moving average is $3.24.

KULR Technology Group (NYSEAMERICAN:KULR - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.53). KULR Technology Group had a negative return on equity of 45.70% and a negative net margin of 383.52%.The company had revenue of $4.85 million during the quarter, compared to analysts' expectations of $8.50 million. As a group, analysts forecast that KULR Technology Group, Inc. will post -0.55 EPS for the current year.

Institutional Investors Weigh In On KULR Technology Group

A number of hedge funds have recently made changes to their positions in KULR. Russell Investments Group Ltd. grew its holdings in KULR Technology Group by 201.7% during the 4th quarter. Russell Investments Group Ltd. now owns 9,167 shares of the company's stock valued at $27,000 after buying an additional 6,129 shares in the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $29,000 after acquiring an additional 4,150 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of KULR Technology Group during the 3rd quarter worth approximately $42,000. LPL Financial LLC raised its holdings in shares of KULR Technology Group by 51.1% during the 4th quarter. LPL Financial LLC now owns 16,158 shares of the company's stock worth $48,000 after acquiring an additional 5,466 shares in the last quarter. Finally, AXQ Capital LP bought a new position in shares of KULR Technology Group during the 4th quarter valued at approximately $51,000. 21.23% of the stock is currently owned by hedge funds and other institutional investors.

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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