Nauticus Robotics (NASDAQ:KITT) Shares Set to Reverse Split on Tuesday, April 21st

Nauticus Robotics, Inc. (NASDAQ:KITT)’s stock is going to reverse split on the morning of Tuesday, April 21st. The 1-8 reverse split was announced on Friday, April 17th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, April 20th.

Nauticus Robotics Price Performance

NASDAQ KITT traded down $0.10 during trading hours on Friday, hitting $0.41. The company’s stock had a trading volume of 5,884,848 shares, compared to its average volume of 4,539,880. Nauticus Robotics has a 12 month low of $0.40 and a 12 month high of $12.51. The company’s 50 day simple moving average is $0.69 and its two-hundred day simple moving average is $1.21. The company has a market cap of $5.55 million and a P/E ratio of 0.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Nauticus Robotics currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nauticus Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in KITT. Engineers Gate Manager LP bought a new position in shares of Nauticus Robotics in the 4th quarter worth approximately $35,000. Jane Street Group LLC bought a new stake in Nauticus Robotics during the fourth quarter valued at approximately $90,000. Geode Capital Management LLC increased 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 buying an additional 174,086 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in Nauticus Robotics by 164.1% in the second quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after acquiring an additional 56,035 shares during the period. 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.