KULR Technology Group (NYSEAMERICAN:KULR) Stock Price Down 9.1% - Should You Sell?

Key Points

• KULR Technology Group shares fell 9.1% to $1.59, with trading volume 37% above the average. The stock remains well below its 50-day and 200-day moving averages of $2.40 and $2.96, respectively.
• The company’s latest quarterly results were significantly weaker than expected, reporting a loss of $0.47 per share versus an estimated loss of $0.08 and revenue of $2.08 million versus $9.00 million expected. KULR also reported deeply negative margins and return on equity.
• Despite the selloff and reduced price target, Litchfield Hills Research reaffirmed a Buy rating with a $7.00 target; analysts’ average rating is also Buy. Institutional investors own 21.23% of the stock, though the company remains a high-risk, volatile investment.

KULR Technology Group, Inc. (NYSEAMERICAN:KULR - Get Free Report)'s share price fell 9.1% during trading on Thursday. The company traded as low as $1.58 and last traded at $1.59. Approximately 1,069,426 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 779,299 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

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

KULR Technology Group Trading Down 9.1%

The business has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $2.96. The stock has a market capitalization of $73.59 million, a P/E ratio of -0.72 and a beta of 2.33.

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

Institutional Investors Weigh In On KULR Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of KULR. Quantbot Technologies LP bought a new position in KULR Technology Group during the 2nd quarter valued at $68,000. Ieq Capital LLC purchased a new position in KULR Technology Group during the 2nd quarter worth $98,000. Jefferies Financial Group Inc. bought a new stake in shares of KULR Technology Group in the 2nd quarter worth $113,000. AXQ Capital LP grew its stake in shares of KULR Technology Group by 127.4% in the 2nd quarter. AXQ Capital LP now owns 33,709 shares of the company's stock worth $128,000 after acquiring an additional 18,883 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of KULR Technology Group in the 2nd quarter worth $916,000. 21.23% of the stock is owned by hedge funds and other institutional investors.

About KULR Technology Group

KULR Technology Group, Inc is a technology company that develops thermal management and battery safety solutions. Its technologies are designed to help control heat, improve performance, and reduce safety risks in batteries and electronic systems used in aerospace, defense, electric vehicles, energy storage, and consumer electronics.

The company's product portfolio includes the KULR ONE battery platform, which is intended to support the design, testing, and production of high-performance battery systems.

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