Nauticus Robotics (NASDAQ:KITT) Shares Down 7.4% – Here’s Why

Shares of Nauticus Robotics, Inc. (NASDAQ:KITT) traded down 7.4% during trading on Thursday . The company traded as low as $1.1101 and last traded at $1.13. Approximately 290,700 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 241,663 shares. The stock had previously closed at $1.22.

Wall Street Analyst Weigh In

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

Nauticus Robotics Price Performance

The firm has a market capitalization of $5.65 million, a PE ratio of -0.02 and a beta of -0.23. The firm has a 50-day simple moving average of $1.75 and a 200-day simple moving average of $4.70.

Nauticus Robotics (NASDAQ:KITT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($2.46) EPS for the quarter. Nauticus Robotics had a negative net margin of 1,292.09% and a negative return on equity of 9,200.82%. The business had revenue of $0.16 million for the quarter.

Institutional Trading of Nauticus Robotics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KITT. Engineers Gate Manager LP purchased a new position in shares of Nauticus Robotics during the 4th quarter worth $35,000. Osaic Holdings Inc. lifted its position 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 purchasing an additional 56,035 shares in the last quarter. Jane Street Group LLC bought a new stake in Nauticus Robotics during the fourth quarter valued at about $90,000. Finally, Geode Capital Management LLC grew its holdings in Nauticus Robotics by 428.8% during the fourth quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock valued at $165,000 after purchasing an additional 174,086 shares during the period. 20.50% of the stock is owned by hedge funds and other institutional investors.

Nauticus Robotics Company Profile

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.