KULR Technology Group (NYSEAMERICAN:KULR) Shares Down 9.1% – Here’s Why

KULR Technology Group, Inc. (NYSEAMERICAN:KULR) traded down 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 traded hands during mid-day trading, an increase of 37% from the average session volume of 779,299 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

Separately, Litchfield Hills Research reiterated a “buy” rating and issued a $7.00 target price (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 MarketBeat.com, KULR Technology Group currently has a consensus rating of “Buy” and an average target price of $7.00.

KULR Technology Group Price Performance

The company’s 50-day moving average is $2.37 and its two-hundred day moving average is $2.95. The company has a market cap of $73.59 million, a P/E ratio of -0.72 and a beta of 2.33.

KULR Technology Group (NYSEAMERICAN:KULR) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.00 million. On average, analysts anticipate that KULR Technology Group, Inc. will post -1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KULR. AXQ Capital LP increased its stake in 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 purchasing an additional 18,883 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of KULR Technology Group in the 2nd quarter worth about $113,000. Bank of America Corp DE bought a new stake in shares of KULR Technology Group during the 2nd quarter valued at about $2,583,000. Quantbot Technologies LP purchased a new position in shares of KULR Technology Group during the second quarter valued at about $68,000. Finally, Ieq Capital LLC purchased a new stake in KULR Technology Group in the second quarter worth about $98,000. 21.23% of the stock is currently owned by institutional investors.

KULR Technology Group Company Profile

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.