Nauticus Robotics (NASDAQ:KITT) Trading Down 7.4% – Here’s Why

Nauticus Robotics, Inc. (NASDAQ:KITT) fell 7.4% on Thursday . The company traded as low as $1.1101 and last traded at $1.13. Approximately 290,700 shares were traded during trading, an increase of 20% from the average session volume of 241,663 shares. The stock had previously closed at $1.22.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Nauticus Robotics Stock Performance

The firm’s 50 day moving average price is $1.79 and its two-hundred day moving average price is $4.73. The firm has a market cap of $5.65 million, a PE ratio of -0.02 and a beta of -0.23.

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

Institutional Investors Weigh In On Nauticus Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KITT. Engineers Gate Manager LP purchased a new position in shares of Nauticus Robotics during the 4th quarter worth $35,000. Osaic Holdings Inc. increased its position in shares of Nauticus Robotics by 164.1% during the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after purchasing an additional 56,035 shares during the last quarter. Jane Street Group LLC purchased a new stake in Nauticus Robotics in the 4th quarter valued at about $90,000. Finally, Geode Capital Management LLC raised its holdings in Nauticus Robotics by 428.8% in the 4th quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock valued at $165,000 after buying an additional 174,086 shares during the period. Hedge funds and other institutional investors own 20.50% of the company’s stock.

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.