Nauticus Robotics, Inc. (NASDAQ:KITT) Stock Short Interest Declines 85.1%

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 135,289 shares, a decline of 85.1% from the September 15th total of 907,880 shares. Currently, 16.1% of the shares of the stock are short sold. Based on an average daily volume of 1,198,580 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KITT shares. Wall Street Zen cut Nauticus Robotics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Nauticus Robotics Price Performance

NASDAQ KITT traded down $0.01 during trading hours on Friday, hitting $1.48. 92,999 shares of the company’s stock traded hands, compared to its average volume of 181,015. The company has a market capitalization of $1.69 million, a PE ratio of -0.00 and a beta of -0.08. Nauticus Robotics has a 52-week low of $1.38 and a 52-week high of $168.48. The firm’s 50-day moving average is $4.16 and its 200-day moving average is $9.69.

Nauticus Robotics (NASDAQ:KITT) last issued its earnings results on Wednesday, August 12th. The company reported ($1.25) earnings per share for the quarter, topping the consensus estimate of ($466.56) by $465.31. Nauticus Robotics had a negative return on equity of 1,067.00% and a negative net margin of 1,758.70%. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $2.00 million.

Nauticus Robotics Company Profile

Nauticus Robotics, Inc develops autonomous and remotely operated robotic systems for subsea operations. The company’s technologies are designed to perform inspection, maintenance, intervention, and data-collection tasks in offshore and underwater environments, with applications across the energy, defense, and ocean industries.

Its product portfolio includes Aquanaut, an autonomous underwater vehicle designed to travel without a traditional tether and perform subsea inspection and intervention work, as well as Hydronaut, a surface or subsea support platform intended to extend the operating capabilities of Nauticus’ robotic systems.