Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $4.50
Time Horizon: 12 Months
Rating Established: November 30, 2020
Price When Established: $1.44
Most Recent Report: April 5, 2022
Price When Issued: $2.25
KULR Technology Group Reports Q1 Results
On May 16, 2022, KULR Technology Group (OTC: KULR) reported results for its first quarter ended March 31, 2022.
For the quarter, the company reported that revenues decreased to $200,000 from $418,000 in 1Q21. KULR reported a net loss of $4.1 million or $(0.04) per share compared to a loss of $1.7 million or $(0.02) per share in the comparable quarter in 2021. The company said that over $300,000 in revenue was delayed due to supply chain challenges and the inventory buildup in China from the mandated COVID-19 lockdowns. KULR expects to report the delayed 1Q22 revenues in 2Q22.
Taglich Brothers’ projected 1Q22 revenue of $750,000 and a net loss of $3.8 million or $(0.04) per share.
KULR Provides Biosensing Solution for the Metaverse
On May 3, 2022, KULR Technology Group (NYSE: KULR) announced it has shipped prototypes of a core component in the sensing of electrical nerve signals to control navigation through virtual environments to a major original equipment manufacturer of hardware and software to the Metaverse. This multinational technology conglomerate has selected KULR’s proprietary carbon fiber solution due to its superior thermal and electrical qualities, as well as its comfort on the skin.
KULR Technology Group, Inc., headquartered in Campbell, California, develops and commercializes high-performance thermal management technologies for batteries, electronics, and other components.