Nauticus Robotics, Inc. (NASDAQ:KITT) Short Interest Update

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,775,005 shares, a growth of 59.5% from the January 15th total of 1,112,605 shares. Based on an average daily volume of 7,479,885 shares, the days-to-cover ratio is currently 0.2 days. Currently, 18.0% of the company’s shares are sold short. Currently, 18.0% of the company’s shares are sold short. Based on an average daily volume of 7,479,885 shares, the days-to-cover ratio is currently 0.2 days.

Insider Buying and Selling

In other Nauticus Robotics news, major shareholder International Ltd Transocean sold 28,185 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $0.90, for a total transaction of $25,366.50. Following the completion of the sale, the insider directly owned 2,122,531 shares in the company, valued at $1,910,277.90. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ltd. Transocean sold 2,021,920 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.02, for a total transaction of $2,062,358.40. Following the completion of the sale, the insider directly owned 6,421 shares of the company’s stock, valued at $6,549.42. The trade was a 99.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,144,295 shares of company stock valued at $2,161,720. Corporate insiders own 28.20% of the company’s stock.

Hedge Funds Weigh In On Nauticus Robotics

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in Nauticus Robotics in the 4th quarter valued at about $90,000. Geode Capital Management LLC lifted its stake in shares of Nauticus Robotics by 428.8% in the fourth quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock worth $165,000 after acquiring an additional 174,086 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 20.50% of the company’s stock.

Analysts Set New Price Targets

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

Nauticus Robotics Stock Down 6.8%

Shares of KITT traded down $0.06 during mid-day trading on Friday, reaching $0.82. 1,842,751 shares of the stock traded hands, compared to its average volume of 5,175,448. The stock has a fifty day simple moving average of $0.95 and a 200 day simple moving average of $2.90. Nauticus Robotics has a 12-month low of $0.69 and a 12-month high of $14.85. The firm has a market cap of $11.20 million, a price-to-earnings ratio of 0.00 and a beta of -0.15.

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.