Nauticus Robotics, Inc. (NASDAQ:KITT) Short Interest Down 39.4% in January

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 1,112,605 shares, a drop of 39.4% from the December 31st total of 1,836,089 shares. Based on an average daily volume of 4,034,753 shares, the short-interest ratio is currently 0.3 days. Approximately 11.3% of the shares of the stock are sold short. Approximately 11.3% of the shares of the stock are sold short. Based on an average daily volume of 4,034,753 shares, the short-interest ratio is currently 0.3 days.

Insider Transactions at Nauticus Robotics

In related news, major shareholder International Ltd Transocean sold 28,185 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $0.90, for a total value of $25,366.50. Following the sale, the insider directly owned 2,122,531 shares of the company’s stock, valued at $1,910,277.90. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ltd. Transocean sold 2,021,920 shares of Nauticus Robotics stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $1.02, for a total value of $2,062,358.40. Following the completion of the sale, the insider owned 6,421 shares in the company, valued at approximately $6,549.42. This represents a 99.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,144,295 shares of company stock valued at $2,161,720 over the last quarter. Company insiders own 28.20% of the company’s stock.

Institutional Investors Weigh In On Nauticus Robotics

A hedge fund recently raised its stake in Nauticus Robotics stock. Geode Capital Management LLC lifted its stake in Nauticus Robotics, Inc. (NASDAQ:KITT) by 743.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 357,669 shares of the company’s stock after purchasing an additional 315,251 shares during the quarter. Geode Capital Management LLC owned about 0.96% of Nauticus Robotics worth $324,000 at the end of the most recent reporting period. Institutional investors own 20.50% of the company’s stock.

Nauticus Robotics Stock Up 2.4%

KITT opened at $1.09 on Friday. The company has a market capitalization of $14.88 million, a PE ratio of -0.01 and a beta of -0.17. The firm has a 50-day simple moving average of $0.96 and a two-hundred day simple moving average of $3.54. Nauticus Robotics has a 52 week low of $0.69 and a 52 week high of $20.79.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average 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.