Technology stocks have led the recent market surge evidenced by the gains made by the tech-heavy Nasdaq composite this week. With that in mind, there are a few small cap technology stocks that investors looking to capitalize on this growth in the sector should start researching.
KULR Techology Group (NYSE:KULR)
KULR Technology Group (NYSE:KULR) is up 112% in 2021, and recently hit a 52 week high $3.81 (up 151%). This recent pullback provides a great opportunity to start researching this company that specializes in lithium-ion battery and thermal technology management.
Their Q3 financials were particularly impressive, highlighted by income up 300% from the same period last year. Heading into Q4, KULR has more than $11 million in cash which is the best financial position the company has been in to date, and it is fortunate because they have a wide list of objectives to complete. If achieved they could be major catalysts for the share price.
A few household names KULR is working with include:
NASA and its Perseverance Mars 2020 Rover
Leidos (NYSE: LDOS)
Lockheed Martin (NYSE: LMT)
Marshall Space Center
In fact, Lockheed Martin just placed an initial order worth approximately $500,000 for KULR’s passive propagation resistant (“PPR”) battery systems.
KULR also received a special permit from the Department of Transportation recently authorizing the transportation of DDR lithium-ion cells, batteries, or lithium metal cells contained in or packed with KULR’s proprietary TRS packaging. With oil prices rising electric vehicles will only gain traction and ancillary providers like KULR will benefit.
If the above wasn’t enough to show you why KULR tops our list of tech stocks to watch; check out the company’s release from Tuesday. They announced the acquisition of IP rights from Centropy AB . The acquisition brings advanced carbon fiber-based heatsink technology for high power computing applications that strengthen KULR’s portfolio of thermal management solutions for cloud computing, AR/VR, AI, and crypto mining applications.
Research and Markets project the global AR and VR markets to be worth $72.7 billion in 2024. The same research firm forecasts the cryptocurrency mining hardware market to grow by $2.82 billion during 2021-2025, progressing at a CAGR of 7.85% during the forecast period. Grand View Research projects the AI market to reach nearly $1 trillion ($997.77) by 2028 and Markets and Markets projects Cloud Computing to hit $947 million by 2026.
That’s several trillion dollars of market opportunity from one acquisition. Make sure KULR is on your radar.
Speaking of cloud computing, Latch (Nasdaq:LTCH) sells hardware and cloud computing based software to real estate developers. While the company’s initial focus was residential development complexes, it has recently expanded to include commercial office buildings.
LTCH was named to Deloitte’s list of the 500 fastest growing companies in North America. The stock started the year on fire hitting a high of $19.70; currently at $8.38, it may be worth radaring for a bounce.
IMMR is a haptics IP licensing firm that has historically obtained the lion’s share of its revenue from smartphone OEMs, but which is now benefiting from greater haptics adoption in everything from cars to gaming peripherals to smart home devices.
Haptics is essentially anything related to the sense of touch. One application you may be familiar with is the PlayStation 5’s DualSense controller which uses Immersion’s IP. They could have some potential in the aforementioned AR/VR space.
Currently trading at a PE ratio of 9, the stock could move closer to the Nasdaq average PE ratio of around 35.
AppHarvest (NASDAQ:APPH) is a sustainable farming play which boasts farming techniques that can grow crops with up to 90% less water. This could be massive with the ever growing concern over clean, fresh water. Its flagship facility in Kentucky is one of the largest indoor farms in the U.S.
The tech component is their recent acquisition of the AI and robotics company Root AI to expand its capabilities in indoor farming technology.
APPH plans to have five facilities in operation by the end of the year. Their main crop is tomatoes and they plan to expand to leafy greens. They could provide you with some leafy greens if they hit their goals in the next few months.
Inseego (NASDAQ:INSG) is an IoT hardware play with a software component. The company’s antennas are in demand as next-gen 5G technology networks are being built. The COVID-based remote work boom makes INSG one of the few companies that actually benefitted from the pandemic.