Nauticus Robotics (NASDAQ:KITT) Announces Quarterly Earnings Results

Nauticus Robotics (NASDAQ:KITT) issued its earnings results on Wednesday. The company reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($129.60) by $128.35, Zacks reports. Nauticus Robotics had a negative net margin of 1,292.09% and a negative return on equity of 9,200.82%.

Nauticus Robotics Stock Performance

Shares of KITT stock traded up $0.04 during trading hours on Wednesday, reaching $1.22. The company had a trading volume of 529,807 shares, compared to its average volume of 454,041. The business has a fifty day moving average price of $1.12 and a 200-day moving average price of $3.44. Nauticus Robotics has a one year low of $0.75 and a one year high of $82.80. The firm has a market cap of $6.10 million, a PE ratio of -0.02 and a beta of -0.21.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KITT. Wall Street Zen raised shares of Nauticus Robotics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Nauticus Robotics has an average rating of “Sell”.

Insiders Place Their Bets

In related news, major shareholder Brian Isaac Dror sold 32,539 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $2.02, for a total transaction of $65,728.78. Following the transaction, the insider owned 782,829 shares in the company, valued at $1,581,314.58. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nauticus Robotics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of Nauticus Robotics in the 4th quarter worth $90,000. Geode Capital Management LLC increased its position in Nauticus Robotics by 428.8% during the fourth quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock valued at $165,000 after acquiring an additional 174,086 shares during the last quarter. 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 valued at $81,000 after acquiring an additional 56,035 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Nauticus Robotics in the fourth quarter worth about $35,000. 20.50% of the stock is owned by institutional investors.

Nauticus Robotics Company Profile

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.