Nauticus Robotics (NASDAQ:KITT) Stock Price Down 7.4% – Here’s What Happened

Nauticus Robotics, Inc. (NASDAQ:KITT) shares fell 7.4% on Thursday . The company traded as low as $1.1101 and last traded at $1.13. Approximately 290,700 shares traded hands during trading, an increase of 20% from the average daily volume of 241,663 shares. The stock had previously closed at $1.22.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Nauticus Robotics Price Performance

The business has a 50 day simple moving average of $1.79 and a 200 day simple moving average of $4.73. The company has a market capitalization of $5.65 million, a price-to-earnings ratio of -0.02 and a beta of -0.23.

Nauticus Robotics (NASDAQ:KITT) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.46) earnings per share for the quarter. The firm had revenue of $0.16 million during the quarter. Nauticus Robotics had a negative net margin of 1,292.09% and a negative return on equity of 9,200.82%.

Hedge Funds Weigh In On Nauticus Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP purchased a new stake in Nauticus Robotics during the fourth quarter worth about $35,000. Jane Street Group LLC acquired a new stake in shares of Nauticus Robotics during the fourth quarter worth about $90,000. Geode Capital Management LLC boosted its stake in shares of Nauticus Robotics by 428.8% in the fourth quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock valued at $165,000 after purchasing an additional 174,086 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of 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 purchasing an additional 56,035 shares during the period. 20.50% of the stock is currently owned by hedge funds and other 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.