Nauticus Robotics, Inc. (NASDAQ:KITT) Stock Short Interest Falls 85.1%

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 135,289 shares, a drop of 85.1% from the September 15th total of 907,880 shares. Currently, 16.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,198,580 shares, the short-interest ratio is presently 0.1 days.

Nauticus Robotics Stock Down 0.7%

NASDAQ:KITT traded down $0.01 on Friday, reaching $1.48. 92,999 shares of the company’s stock were exchanged, compared to its average volume of 181,015. The firm has a market capitalization of $1.69 million, a price-to-earnings ratio of -0.00 and a beta of -0.08. Nauticus Robotics has a 52-week low of $1.38 and a 52-week high of $168.48. The business has a fifty day moving average of $4.16 and a 200-day moving average of $9.69.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen lowered Nauticus Robotics from a “sell” rating to a “strong sell” rating in a research report 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 research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

About Nauticus Robotics

Nauticus Robotics, Inc develops autonomous and remotely operated robotic systems for subsea operations. The company’s technologies are designed to perform inspection, maintenance, intervention, and data-collection tasks in offshore and underwater environments, with applications across the energy, defense, and ocean industries.

Its product portfolio includes Aquanaut, an autonomous underwater vehicle designed to travel without a traditional tether and perform subsea inspection and intervention work, as well as Hydronaut, a surface or subsea support platform intended to extend the operating capabilities of Nauticus’ robotic systems.