Nauticus Robotics (NASDAQ:KITT) Posts Quarterly Earnings Results

Nauticus Robotics (NASDAQ:KITT) announced its quarterly earnings data on Friday. The company reported ($2.63) earnings per share for the quarter, Zacks reports. The company had revenue of $1.98 million for the quarter.

Nauticus Robotics Stock Performance

Shares of KITT traded down $0.12 during trading hours on Friday, hitting $1.31. The stock had a trading volume of 639,506 shares, compared to its average volume of 5,314,075. The firm has a market capitalization of $8.54 million, a PE ratio of -0.01 and a beta of -0.20. The company has a debt-to-equity ratio of 18.06, a current ratio of 0.44 and a quick ratio of 0.39. Nauticus Robotics has a 12 month low of $1.21 and a 12 month high of $54.36. The stock has a fifty day moving average price of $2.68 and a 200 day moving average price of $6.47.

Institutional Investors Weigh In On Nauticus Robotics

An institutional investor recently raised its position in Nauticus Robotics stock. Osaic Holdings Inc. increased its holdings in Nauticus Robotics, Inc. (NASDAQ:KITT) by 164.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,190 shares of the company’s stock after buying an additional 56,035 shares during the quarter. Osaic Holdings Inc. owned 0.21% of Nauticus Robotics worth $81,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KITT. Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Wednesday, October 8th. Wall Street Zen downgraded Nauticus Robotics from a “hold” rating to a “strong sell” rating in a report on Sunday, August 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Nauticus Robotics Company Profile

Nauticus Robotics, Inc develops ocean robots, cloud software, and services to the ocean industry. The company offers Aquanaut, an autonomous underwater vehicle with sensor suite, which provides capability to observe and inspect subsea assets or other subsea features; Olympic Arm, an all-electric manipulator designed for a variety of intervention tasks on work class remotely operated vehicles; and ToolKITT, a software platform, which consists of interrelated products for ocean sensing, manipulation, autonomous behaviors, survey, search and recovery, and manual intervention.