Nauticus Robotics (NASDAQ:KITT) Stock Price Down 5.2% – Should You Sell?

Nauticus Robotics, Inc. (NASDAQ:KITT)’s share price was down 5.2% on Tuesday . The stock traded as low as $3.17 and last traded at $3.27. Approximately 642,761 shares changed hands during trading, a decline of 14% from the average daily volume of 746,447 shares. The stock had previously closed at $3.45.

Analyst Ratings Changes

Several equities analysts have weighed in on KITT shares. Wall Street Zen downgraded Nauticus Robotics from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Nauticus Robotics Stock Performance

The firm has a market capitalization of $18.64 million, a PE ratio of -0.01 and a beta of -0.16. The company has a debt-to-equity ratio of 18.06, a current ratio of 0.44 and a quick ratio of 0.39. The stock has a 50-day moving average price of $5.72 and a 200-day moving average price of $7.79.

Nauticus Robotics (NASDAQ:KITT) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($2.34) earnings per share for the quarter. The company had revenue of $2.08 million during the quarter.

Institutional Investors Weigh In On Nauticus Robotics

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Nauticus Robotics during the 1st quarter valued at $37,000. Osaic Holdings Inc. increased its stake 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 acquiring an additional 56,035 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Nauticus Robotics by 743.2% in the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock worth $324,000 after acquiring an additional 315,251 shares during the last quarter. Institutional investors and hedge funds own 20.50% of the company’s stock.

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.