KULR Technology Group, Inc. (NYSE:KULR) reported a significant transaction from a major shareholder. Timothy Ray Knowles (NYSE:), recognized as a ten percent owner of the company, sold a considerable number of shares. On March 25, Knowles parted with 361,338 shares of KULR Technology Group common stock, with a total value of approximately $104,788. The shares were sold at an average price of $0.29 each, as reported in the document’s footnotes.
This sale was conducted under the limitations set forth in Rule 144(e), which regulates the volume of securities an affiliate may sell within a three-month period. According to the notes reported in the documents, the sale was carried out to generate funds for extraordinary medical expenses. The shares sold represent the maximum number of shares that Knowles was entitled to sell under Rule 144(e) during the period.
Following this transaction, Knowles still holds a significant stake in the company, with a reported 14,268,027 shares of common stock remaining in his direct ownership. It should be noted that this figure does not include the additional 670,360 shares owned indirectly by Knowles through his wife, Marianne Knight, over which he has no direct voting or dispositive control.
KULR Technology Group, Inc., headquartered in San Diego, California, is engaged in the electronic components and accessories business. The company, incorporated in Delaware, has a history of name changes, previously known as KT (NYSE:) High-Tech Marketing Inc. and Grant Hill Acquisition Corp.
Investors and the market often monitor insider transactions because they can provide insight into an insider’s perspective on the value of the company’s stock. However, it is important to consider that such sales may be motivated by a variety of personal financial needs and may not necessarily reflect the insider’s view of the company’s future performance.
Insights on InvestingPro
Recent insider trading activity at KULR Technology Group, Inc. (NYSE:KULR) has highlighted the company’s financial metrics and market performance. Second InvestirePro According to the data, KULR has a market capitalization of approximately $54.61 million, which reflects the current market valuation of the company. Despite the insider selling, analysts following KULR have a positive outlook, predicting sales growth for the current year. This optimism is bolstered by the company’s impressive gross profit margin, which stands at nearly 50% for the trailing twelve months as of Q3 2023.
However, the company’s price-to-book ratio, over the same period, is quite high at 44.28, suggesting that the stock may be trading at a premium to its book value. Additionally, the high revenue growth of 215.9% over the trailing twelve months signals a significant increase in sales, but it is essential to note that KULR is not expected to be profitable this year and has been operating at a negative EBITDA growth rate of – 9.05%.
From an investment perspective, KULR has demonstrated impressive short-term returns, returning 83.04% over the past week and returning 197.53% over the past month. These sharp increases could be indicative of market volatility, a characteristic that is often associated with KULR’s stock trading model. Investors interested in further insights can explore further information Professional investment tips, such as the company’s cash burn rate and short-term obligations, by visiting InvestingPro. There are 17 more Professional investment tips available, which could provide a deeper understanding of the company’s financial health and investment potential.
For those who are considering an investment in KULR Technology Group, Inc. or want to expand their knowledge about the company, using the coupon code PRONEWS24 will guarantee an additional 10% discount on the annual or biennial Pro and Pro+ subscription InvestirePro. This offering could be a valuable resource in making informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For further information please see our T&Cs.