Nauticus Robotics (NASDAQ:KITT) Major Shareholder Brian Isaac Dror Sells 32,539 Shares of Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Brian Isaac Dror sold 32,539 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $2.02, for a total value of $65,728.78. Following the transaction, the insider owned 782,829 shares in the company, valued at $1,581,314.58. The trade was a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Nauticus Robotics Trading Down 7.3%

Shares of Nauticus Robotics stock traded down $0.06 during trading on Tuesday, hitting $0.74. 59,325 shares of the stock traded hands, compared to its average volume of 459,666. Nauticus Robotics, Inc. has a 52-week low of $0.75 and a 52-week high of $82.80. The stock’s fifty day simple moving average is $1.30 and its 200 day simple moving average is $4.00. The firm has a market cap of $3.71 million, a P/E ratio of -0.01 and a beta of -0.23.

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

Analysts Set New Price Targets

KITT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nauticus Robotics in a report on Friday, July 17th. Wall Street Zen raised Nauticus Robotics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nauticus Robotics presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP purchased a new position in shares of Nauticus Robotics in the fourth quarter valued at approximately $35,000. Jane Street Group LLC acquired a new position in Nauticus Robotics during the fourth quarter worth about $90,000. Geode Capital Management LLC boosted its holdings in shares of Nauticus Robotics by 428.8% during the 4th quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock worth $165,000 after purchasing an additional 174,086 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Nauticus Robotics by 164.1% in the 2nd 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 during the last quarter. 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.