Nauticus Robotics (NASDAQ:KITT) Stock Price Up 3.8% – Here’s Why

Shares of Nauticus Robotics, Inc. (NASDAQ:KITT) were up 3.8% during trading on Monday . The stock traded as high as $0.8030 and last traded at $0.7992. 83,897 shares were traded during mid-day trading, a decline of 64% from the average session volume of 233,160 shares. The stock had previously closed at $0.7699.

Wall Street Analyst Weigh In

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

Nauticus Robotics Trading Down 11.2%

The stock has a market cap of $3.86 million, a PE ratio of -0.01 and a beta of -0.23. The business has a 50-day moving average price of $1.28 and a 200 day moving average price of $3.95.

Nauticus Robotics (NASDAQ:KITT) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($2.46) earnings per share 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 firm had revenue of $0.16 million during the quarter.

Insider Activity

In related news, major shareholder Brian Isaac Dror sold 32,539 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $2.02, for a total transaction of $65,728.78. Following the sale, the insider directly owned 782,829 shares in the company, valued at approximately $1,581,314.58. This represents a 3.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 26.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 315,251 shares during the period. Jane Street Group LLC bought a new position in shares of Nauticus Robotics in the fourth quarter worth $90,000. Osaic Holdings Inc. boosted its holdings in shares of 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. Finally, Engineers Gate Manager LP purchased a new position in shares of Nauticus Robotics in the fourth quarter valued at $35,000. 20.50% of the stock is currently owned by hedge funds and other 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.