10 Hot Penny Stocks to Buy Now

5. KULR Technology Group, Inc. (NYSE:KULR)

Price: $2.02

6-Months Performance: 815.91%

Number of Hedge Fund Holders: 6

KULR Technology Group, Inc. (NYSE:KULR) focuses on improving battery safety and efficiency through advanced thermal management technologies. Its technology is used in powering high-consumption industries such as aerospace, defense, and commercial usage. Its products include Thermal Runaway Shields, which protect batteries from overheating, and Automated Battery Testing Systems that ensure the quality and safety of battery cells.

KULR Technology Group, Inc. (NYSE:KULR) is strategically expanding into the AI infrastructure market by focusing on cooling solutions and energy management. It has partnered with EDOM Technology, an NVIDIA Channel Partner, to distribute its KULR Xero Vibe and KULR ONE product lines in Taiwan’s AI supply chain market. This collaboration aims to provide cooling solutions for both server and edge computing devices within the AI ecosystem. Moreover, the company has also secured licensing partnerships, including one with a Japanese corporation, to utilize its KXV technology for data center cooling and HVAC systems.

During the fiscal third quarter of 2024, KULR Technology Group, Inc. (NYSE:KULR) achieved record revenue of approximately $3.19 million. The revenue was driven by an 83% growth in paying customers and a 143% increase in Engineering service revenue. It is one of the hot penny stocks to buy now.