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KULR Technology Group Inc. (AMEX: KULR): Stock Forecast For 2023 Sees A A Decline Of -40.88%

In the last trading session, 1.53 million shares of the KULR Technology Group Inc. (AMEX:KULR) were traded, and its beta was 0.38. Most recently the company’s share price was $0.74, and it changed around -$0.08 or -10.13% from the last close, which brings the market valuation of the company to $91.55M. KULR currently trades at a discount to its 52-week high of $2.22, offering almost -200.0% off that amount. The share price’s 52-week low was $0.55, which indicates that the current value has risen by an impressive 25.68% since then. We note from KULR Technology Group Inc.’s average daily trading volume that its 10-day average is 0.61 million shares, with the 3-month average coming to 427.86K.

KULR Technology Group Inc. (AMEX:KULR) trade information

Instantly KULR has showed a red trend with a performance of -10.13% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 0.9450 on Tuesday, 05/23/23 increased the stock’s daily price by 21.69%. The company’s shares are currently down -38.42% year-to-date, but still up 11.94% over the last five days. On the other hand, KULR Technology Group Inc. (AMEX:KULR) is 4.82% up in the 30-day period. We can see from the shorts that 3.99 million shares have been sold at a short interest cover period of 11.82 day(s).

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KULR Technology Group Inc. (KULR) estimates and forecasts

KULR Technology Group Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -61.11 percent over the past six months and at a 16.67% annual growth rate that is well above the industry average of -6.80%. The year-over-year growth rate is expected to be 261.20%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $2.76 million in revenue for the current quarter. 3 analysts expect KULR Technology Group Inc. to make $3.81 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $588k and $920k respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 369.40%. Forecasts for the next quarter put sales growth at 314.10%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -37.20%.

KULR Dividends

KULR Technology Group Inc.’s next quarterly earnings report is expected to be released around August 14 and August 18.

KULR Technology Group Inc. (AMEX:KULR)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 33.69% of KULR Technology Group Inc. shares, and 5.61% of them are in the hands of institutional investors. The stock currently has a share float of 8.47%. KULR Technology Group Inc. stock is held by 55 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 3.28% of the shares, which is about 3.1 million shares worth $2.72 million.

Blackrock Inc., with 0.93% or 0.88 million shares worth $0.77 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 1.9 million shares worth $2.27 million, making up 2.01% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.77 million shares worth around $0.92 million, which represents about 0.81% of the total shares outstanding.

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