Nauticus Robotics, Inc. (NASDAQ:KITT) Sees Significant Increase in Short Interest

Nauticus Robotics, Inc. (NASDAQ:KITT) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,141,995 shares, a growth of 16.9% from the February 12th total of 2,686,934 shares. Based on an average daily volume of 2,910,567 shares, the days-to-cover ratio is currently 1.1 days. Approximately 31.9% of the shares of the company are sold short. Approximately 31.9% of the shares of the company are sold short. Based on an average daily volume of 2,910,567 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Nauticus Robotics

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

Nauticus Robotics Stock Down 4.4%

Shares of NASDAQ:KITT opened at $0.65 on Thursday. Nauticus Robotics has a fifty-two week low of $0.63 and a fifty-two week high of $12.51. The firm’s 50-day simple moving average is $0.89 and its 200-day simple moving average is $1.69. The company has a market cap of $8.91 million, a price-to-earnings ratio of 0.00 and a beta of -0.12.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.