Insider Selling: Nauticus Robotics (NASDAQ:KITT) Major Shareholder Sells $65,728.78 in Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Brian Isaac Dror sold 32,539 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $2.02, for a total value of $65,728.78. Following the transaction, the insider directly owned 782,829 shares of the company’s stock, valued at approximately $1,581,314.58. The trade was a 3.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Nauticus Robotics Trading Up 7.3%

KITT opened at $0.83 on Friday. The company’s 50 day moving average is $1.24 and its 200-day moving average is $3.86. Nauticus Robotics, Inc. has a 1-year low of $0.75 and a 1-year high of $82.80. The company has a market cap of $4.15 million, a P/E ratio of -0.01 and a beta of -0.23.

Nauticus Robotics (NASDAQ:KITT) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($2.46) earnings per share (EPS) for the quarter. The company 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 Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Nauticus Robotics by 743.2% in the 2nd 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 last quarter. Jane Street Group LLC bought a new stake in Nauticus Robotics during the 4th quarter worth approximately $90,000. Osaic Holdings Inc. grew its holdings in Nauticus Robotics by 164.1% during the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after acquiring an additional 56,035 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Nauticus Robotics in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Nauticus Robotics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.