Ltd. Transocean Sells 32,839 Shares of Nauticus Robotics (NASDAQ:KITT) Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Ltd. Transocean sold 32,839 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $0.74, for a total value of $24,300.86. Following the completion of the sale, the insider owned 2,028,341 shares in the company, valued at $1,500,972.34. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ltd. Transocean also recently made the following trade(s):

• On Wednesday, December 3rd, Ltd. Transocean sold 2,021,920 shares of Nauticus Robotics stock. The stock was sold at an average price of $1.02, for a total value of $2,062,358.40.
• On Monday, December 1st, Ltd. Transocean sold 61,351 shares of Nauticus Robotics stock. The shares were sold at an average price of $0.81, for a total transaction of $49,694.31.

Nauticus Robotics Price Performance

NASDAQ:KITT opened at $1.12 on Friday. Nauticus Robotics, Inc. has a 12-month low of $0.71 and a 12-month high of $54.36. The firm has a market cap of $15.36 million, a price-to-earnings ratio of -0.01 and a beta of -0.17. The company’s 50-day moving average is $1.95 and its two-hundred day moving average is $5.62. The company has a current ratio of 0.21, a quick ratio of 0.19 and a debt-to-equity ratio of 18.06.

Hedge Funds Weigh In On Nauticus Robotics

Several institutional investors and hedge funds have recently bought and sold shares of KITT. Geode Capital Management LLC boosted its holdings in shares of Nauticus Robotics by 743.2% in the 2nd quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock valued at $324,000 after purchasing an additional 315,251 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Nauticus Robotics by 164.1% during the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after buying an additional 56,035 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Nauticus Robotics in the 1st quarter worth $37,000. Institutional investors and hedge funds own 20.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on KITT shares. Wall Street Zen lowered shares of Nauticus Robotics from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nauticus Robotics presently has a consensus rating of “Sell”.

About Nauticus Robotics

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.