KULR Technology Group (NYSEAMERICAN:KULR) Shares Down 13.2% – Here’s Why

Shares of KULR Technology Group, Inc. (NYSEAMERICAN:KULR) dropped 13.2% on Wednesday . The stock traded as low as $2.82 and last traded at $2.83. Approximately 8,230,153 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 34,168,910 shares. The stock had previously closed at $3.26.

KULR Technology Group Price Performance

The firm has a market capitalization of $677.16 million, a price-to-earnings ratio of -23.58 and a beta of 3.17. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On KULR Technology Group

A number of institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of KULR Technology Group during the 3rd quarter worth $29,000. Fortem Financial Group LLC acquired a new position in shares of KULR Technology Group in the 4th quarter valued at $298,000. XTX Topco Ltd purchased a new position in KULR Technology Group in the 2nd quarter worth about $31,000. International Assets Investment Management LLC purchased a new position in KULR Technology Group in the 4th quarter worth about $56,000. Finally, Geode Capital Management LLC raised its holdings in KULR Technology Group by 44.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,555,255 shares of the company’s stock worth $443,000 after buying an additional 479,026 shares during the period. 21.23% of the stock is currently owned by institutional investors and hedge funds.

KULR Technology Group Company Profile

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.