Nauticus Robotics (NASDAQ:KITT) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Nauticus Robotics (NASDAQ:KITT) from a sell rating to a strong sell rating in a report published on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nauticus Robotics in a report on Friday, July 17th. One 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

KITT stock opened at $0.95 on Friday. The company has a market capitalization of $4.77 million, a P/E ratio of -0.02 and a beta of -0.21. Nauticus Robotics has a 12 month low of $0.75 and a 12 month high of $82.80. The firm’s fifty day simple moving average is $1.08 and its 200-day simple moving average is $3.26.

Nauticus Robotics (NASDAQ:KITT) last posted its earnings results on Wednesday, August 12th. The company reported ($1.25) EPS for the quarter, topping the consensus estimate of ($77.76) by $76.51. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $2.00 million. Nauticus Robotics had a negative return on equity of 1,067.00% and a negative net margin of 1,758.70%.

Insiders Place Their Bets

In other Nauticus Robotics news, major shareholder Brian Isaac Dror sold 32,539 shares of the company’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.30% of the company’s stock.

Institutional Trading of Nauticus Robotics

Institutional investors have recently modified their holdings of the stock. Engineers Gate Manager LP purchased a new stake in shares of Nauticus Robotics during the fourth quarter worth about $35,000. Osaic Holdings Inc. lifted its stake in Nauticus Robotics by 164.1% in the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock valued at $81,000 after buying an additional 56,035 shares in the last quarter. Jane Street Group LLC acquired a new stake in Nauticus Robotics in the 4th quarter worth about $90,000. Finally, Geode Capital Management LLC boosted 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 worth $165,000 after buying an additional 174,086 shares during the last quarter. Institutional investors and hedge funds own 20.50% of the company’s stock.

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.