Nauticus Robotics (NASDAQ:KITT) Issues Earnings Results

Nauticus Robotics (NASDAQ:KITT) issued its earnings results on Wednesday. The company reported ($2.98) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.06 million during the quarter.

Nauticus Robotics Stock Performance

NASDAQ KITT opened at $0.54 on Thursday. The stock has a 50-day simple moving average of $0.70 and a two-hundred day simple moving average of $1.21. The firm has a market capitalization of $7.40 million and a P/E ratio of 0.00. Nauticus Robotics has a fifty-two week low of $0.43 and a fifty-two week high of $12.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Nauticus Robotics presently has an average rating of “Sell”.

Hedge Funds Weigh In On Nauticus Robotics

A number of institutional investors have recently modified their holdings of KITT. Geode Capital Management LLC raised its stake in shares of Nauticus Robotics by 743.2% during the 2nd quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock valued at $324,000 after buying an additional 315,251 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Nauticus Robotics during the 4th quarter valued at about $90,000. Osaic Holdings Inc. raised its stake 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 valued at $81,000 after buying an additional 56,035 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Nauticus Robotics during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 20.50% of the company’s stock.

About Nauticus Robotics

Nauticus Robotics, Inc (NASDAQ: KITT) is a maritime robotics company focused on developing and deploying uncrewed surface and subsea vessels for inspection, survey and maintenance applications. The company’s solutions combine purpose-built hardware with advanced autonomy software and sensor integration, allowing operators to conduct offshore and in-shore missions without personnel aboard. By digitizing routine vessel operations, Nauticus Robotics aims to reduce the time, cost and risk associated with traditional crewed marine services.

The company’s product portfolio includes modular uncrewed surface vessels (USVs) and remotely operated vehicles (ROVs) equipped with high-resolution sonar, cameras and other environmental sensors.