KULR Technology Group Stock Is Rising Today: What's Going On?

KULR Technology Group, Inc. KULR shares are trading higher Thursday on what appears to be continued momentum from the company’s announcement that it regained compliance with the NYSE American's stockholder equity requirements. Benchmark upgraded the stock following the news. Here’s what you need to know.

What To Know: Benchmark analyst Michael Legg upgraded KULR Technology from a Speculative Buy rating to a Buy rating on Thursday and raised the price target from $1 to $5.

The upgrade comes after KULR on Wednesday announced that it received official notice from the NYSE American confirming that the company regained compliance with all continued listing requirements.

The NYSE American had cited KULR for non-compliance with specific equity standards outlined in the NYSE American Company Guide in a letter dated Dec. 20 2023. To address these issues, the company demonstrated compliance for two consecutive quarters. KULR confirmed on Thursday that no further deficiencies remain outstanding.

As a result, the below compliance indicator was removed from the company's stock at the opening of trading on Tuesday. Additionally, KULR was removed from the NYSE American's list of noncompliant issuers.

The company's compliance resolution appears to have bolstered investor confidence, with shares now up more than 90% over the past five trading sessions.

KULR Technology Group aims to deliver energy storage solutions for the space, aerospace and defense industries by leveraging in-house battery design expertise, cell and battery testing and battery fabrication and production capabilities. 

KULR Price Action: KULR Technology shares were up 7.21% at $2.23 at the time of publication, according to Benzinga Pro.

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Image: courtesy of KULR Technology.