Sharp decrease in KULR’s short interest leads to decline in days-to-cover ratio

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. KULR Technology Group Inc shares valued at $150,000 were purchased by Mo Michael on Sep 15 ’23. At $0.35 per share, Mo Michael acquired 428,571 shares. The insider’s holdings grew to 21,155,110 shares worth approximately $2.96 million following the completion of this transaction.

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Also, Knowles Timothy Ray sold 61,756 shares, netting a total of over 38,289 in proceeds. Following the sale of shares at $0.62 each, the insider now holds 670,360 shares.

Before that, Knowles Timothy Ray had sold 38,244 shares from its account. In a trade valued at $24,476, the Executive Technical Fellow traded KULR Technology Group Inc shares for $0.64 each. Upon closing the transaction, the insider’s holdings decreased to 38,244 shares, worth approximately $0.1 million.

As published in their initiating research note from Alliance Global Partners on October 18, 2021, KULR Technology Group Inc [KULR] has been a Buy and the price target has been revised to $3.50.

Analyzing KULR Stock Performance

During the last five days, there has been a drop of approximately -2.10%. Over the course of the year, KULR Technology Group Inc shares have dropped approximately -24.32%. Shares of the company reached a 52-week high of $0.2170 on 01/17/24 and a 52-week low of $0.1000 on 02/09/24. A 50-day SMA is recorded $0.1610, while a 200-day SMA reached $0.4463. Nevertheless, trading volume fell to 1.64 million shares from 0.61 million shares the previous day.

Support And Resistance Levels for KULR Technology Group Inc (KULR)

According to the 24-hour chart, there is a support level at 0.1353, which, if violated, would cause prices to drop to 0.1307. In the upper region, resistance lies at 0.1433. The next price resistance is at 0.1467. RSI (Relative Strength Index) is 45.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0038, which suggests the price will decrease in the coming days. Percent R is at 65.57%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is KULR Technology Group Inc subject to short interest?

Stocks of KULR Technology Group Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -1.03 million shares to 3.28 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 4.31 million shares. A decline of -31.4% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.63 of the overall float, the days-to-cover ratio (short ratio) decline to 1.63.

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