Nauticus Robotics, Inc. (NASDAQ:KITT) Stock Short Interest Jumps 48.2%

Nauticus Robotics, Inc. (NASDAQ:KITT) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 907,880 shares, a growth of 48.2% from the August 31st total of 612,768 shares. Approximately 18.0% of the shares of the company are sold short. Based on an average trading volume of 2,890,313 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

KITT has been the subject of several recent analyst reports. Wall Street Zen cut Nauticus Robotics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Nauticus Robotics Price Performance

Shares of KITT traded down $0.33 during midday trading on Thursday, reaching $1.58. The stock had a trading volume of 570,084 shares, compared to its average volume of 167,039. The company has a market capitalization of $1.80 million, a P/E ratio of -0.00 and a beta of -0.20. The firm’s 50 day moving average price is $4.63 and its 200-day moving average price is $11.02. Nauticus Robotics has a 52 week low of $1.55 and a 52 week high of $175.20.

Nauticus Robotics (NASDAQ:KITT) last released its earnings results on Wednesday, August 12th. The company reported ($1.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($466.56) by $465.31. Nauticus Robotics had a negative return on equity of 1,067.00% and a negative net margin of 1,758.70%.The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $2.00 million.

Nauticus Robotics Company Profile

Nauticus Robotics, Inc is a Houston, Texas-based developer of autonomous robotics and related software for subsea and maritime operations. The company focuses on reducing the need for human divers and conventionally operated support vessels in offshore energy, defense, communications, and environmental applications.

Its principal technology includes Aquanaut, an autonomous underwater vehicle designed to travel through the water independently and perform subsea inspection, maintenance, and intervention tasks.