Ltd. Transocean Sells 2,021,920 Shares of Nauticus Robotics (NASDAQ:KITT) Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Ltd. Transocean sold 2,021,920 shares of Nauticus Robotics stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $1.02, for a total transaction of $2,062,358.40. Following the transaction, the insider directly owned 6,421 shares in the company, valued at $6,549.42. This represents a 99.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ltd. Transocean also recently made the following trade(s):

• On Tuesday, December 2nd, Ltd. Transocean sold 32,839 shares of Nauticus Robotics stock. The shares were sold at an average price of $0.74, for a total transaction of $24,300.86.
• On Monday, December 1st, Ltd. Transocean sold 61,351 shares of Nauticus Robotics stock. The stock was sold at an average price of $0.81, for a total transaction of $49,694.31.

Nauticus Robotics Trading Down 4.3%

Shares of KITT stock opened at $1.12 on Friday. The company has a debt-to-equity ratio of 18.06, a quick ratio of 0.19 and a current ratio of 0.21. The company has a market capitalization of $15.36 million, a price-to-earnings ratio of -0.01 and a beta of -0.17. Nauticus Robotics, Inc. has a 52-week low of $0.71 and a 52-week high of $54.36. The company has a 50-day simple moving average of $1.95 and a two-hundred day simple moving average of $5.62.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a report on Wednesday, October 8th. Wall Street Zen cut Nauticus Robotics from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Nauticus Robotics has an average rating of “Sell”.

Institutional Trading of Nauticus Robotics

A number of large investors have recently bought and sold shares of KITT. Virtu Financial LLC purchased a new position in shares of Nauticus Robotics during the 1st quarter valued at $37,000. Osaic Holdings Inc. raised 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 acquiring an additional 56,035 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 315,251 shares during the last quarter. 20.50% of the stock is owned by hedge funds and other institutional investors.

Nauticus Robotics Company Profile

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.