Nauticus Robotics (NASDAQ:KITT) Stock Price Up 3.8% – Here’s Why

Nauticus Robotics, Inc. (NASDAQ:KITT) shares shot up 3.8% during mid-day trading on Monday . The stock traded as high as $0.8030 and last traded at $0.7992. Approximately 83,897 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 233,160 shares. The stock had previously closed at $0.7699.

Wall Street Analysts Forecast Growth

Several research firms have commented on KITT. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Friday, July 17th. Wall Street Zen raised shares of Nauticus Robotics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nauticus Robotics has a consensus rating of “Sell”.

Nauticus Robotics Price Performance

The firm’s 50 day moving average price is $1.30 and its 200 day moving average price is $4.00. The stock has a market capitalization of $4.00 million, a P/E ratio of -0.01 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. The business had revenue of $0.16 million for the quarter. Nauticus Robotics had a negative net margin of 1,292.09% and a negative return on equity of 9,200.82%.

Institutional Investors Weigh In On Nauticus Robotics

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Nauticus Robotics by 743.2% during the second 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 period. Osaic Holdings Inc. lifted its holdings in 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. Jane Street Group LLC bought a new stake in Nauticus Robotics during the 4th quarter valued at approximately $90,000. Finally, Engineers Gate Manager LP bought a new stake in Nauticus Robotics during the 4th quarter valued at approximately $35,000. 20.50% of the stock is owned by hedge funds and other institutional investors.

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.