Nauticus Robotics (NASDAQ:KITT) Posts Quarterly Earnings Results

Nauticus Robotics (NASDAQ:KITT) posted its quarterly earnings data on Thursday. The company reported ($2.46) earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.16 million during the quarter.

Nauticus Robotics Price Performance

Shares of NASDAQ KITT traded down $0.17 during trading hours on Friday, hitting $1.83. 204,549 shares of the company’s stock were exchanged, compared to its average volume of 509,409. Nauticus Robotics has a 1-year low of $1.83 and a 1-year high of $87.12. The stock has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.03 and a beta of -0.22. The company’s 50-day moving average price is $3.92 and its 200-day moving average price is $6.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Nauticus Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Nauticus Robotics by 743.2% during the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock valued at $324,000 after acquiring an additional 315,251 shares during the period. Jane Street Group LLC bought a new position in Nauticus Robotics during the fourth quarter valued at about $90,000. Osaic Holdings Inc. increased its stake in Nauticus Robotics by 164.1% during the second quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock valued at $81,000 after acquiring an additional 56,035 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Nauticus Robotics during the fourth quarter valued at about $35,000. 20.50% of the stock is currently owned by institutional investors.

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.