Nauticus Robotics (NASDAQ:KITT) Posts Earnings Results

Nauticus Robotics (NASDAQ:KITT) posted its quarterly earnings data on Wednesday. The company reported ($2.98) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $1.06 million during the quarter.

Nauticus Robotics Stock Down 5.9%

KITT stock opened at $0.51 on Friday. Nauticus Robotics has a 52 week low of $0.43 and a 52 week high of $12.51. The company has a market cap of $6.96 million and a price-to-earnings ratio of 0.00. The business has a fifty day simple moving average of $0.69 and a 200-day simple moving average of $1.21.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Nauticus Robotics

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Nauticus Robotics by 743.2% during the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock worth $324,000 after buying an additional 315,251 shares during the period. Jane Street Group LLC acquired a new position in shares of Nauticus Robotics during the fourth quarter worth about $90,000. Osaic Holdings Inc. boosted its position 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 buying an additional 56,035 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Nauticus Robotics in the 4th quarter worth approximately $35,000. 20.50% of the stock is owned by institutional investors and hedge funds.

Nauticus Robotics Company Profile

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.