Nauticus Robotics (NASDAQ:KITT) Downgraded to “Strong Sell” Rating by Wall Street Zen

Nauticus Robotics (NASDAQ:KITT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Sunday.

Nauticus Robotics Trading Up 3.4%

Shares of NASDAQ:KITT opened at $0.8167 on Friday. Nauticus Robotics has a 52 week low of $0.7602 and a 52 week high of $6.04. The company’s 50 day moving average is $0.95 and its two-hundred day moving average is $1.03. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 18.06. The company has a market cap of $34.52 million, a PE ratio of -0.03 and a beta of -0.03.

Nauticus Robotics (NASDAQ:KITT) last posted its earnings results on Tuesday, August 12th. The company reported ($0.26) EPS for the quarter. The company had revenue of $2.08 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Nauticus Robotics by 743.2% in the 2nd quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock valued at $324,000 after buying an additional 315,251 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Nauticus Robotics in the 1st quarter valued at $37,000. Finally, Moody National Bank Trust Division purchased a new position in shares of Nauticus Robotics in the 1st quarter valued at $34,000. 20.50% of the stock is owned by hedge funds and other institutional investors.

About Nauticus Robotics

Nauticus Robotics, Inc develops ocean robots, cloud software, and services to the ocean industry. The company offers Aquanaut, an autonomous underwater vehicle with sensor suite, which provides capability to observe and inspect subsea assets or other subsea features; Olympic Arm, an all-electric manipulator designed for a variety of intervention tasks on work class remotely operated vehicles; and ToolKITT, a software platform, which consists of interrelated products for ocean sensing, manipulation, autonomous behaviors, survey, search and recovery, and manual intervention.