Nauticus Robotics (NASDAQ:KITT) Major Shareholder Sells $25,366.50 in Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder International Ltd Transocean sold 28,185 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $0.90, for a total value of $25,366.50. Following the transaction, the insider directly owned 2,122,531 shares of the company’s stock, valued at approximately $1,910,277.90. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Nauticus Robotics Stock Down 25.0%

Shares of KITT traded down $0.39 during mid-day trading on Thursday, reaching $1.17. The company’s stock had a trading volume of 83,741,449 shares, compared to its average volume of 2,017,552. The company has a debt-to-equity ratio of 18.06, a current ratio of 0.21 and a quick ratio of 0.19. Nauticus Robotics, Inc. has a 12-month low of $0.71 and a 12-month high of $54.36. The stock has a market cap of $16.04 million, a PE ratio of -0.01 and a beta of -0.17. The company’s 50 day moving average is $2.03 and its 200 day moving average is $5.71.

Institutional Investors Weigh In On Nauticus Robotics

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Nauticus Robotics during the first quarter worth about $37,000. Geode Capital Management LLC lifted its position in Nauticus Robotics by 743.2% during the 2nd quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock worth $324,000 after acquiring an additional 315,251 shares during the period. Finally, Osaic Holdings Inc. grew its stake in shares of Nauticus Robotics by 164.1% in the 2nd 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 last quarter. 20.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Nauticus Robotics from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Nauticus Robotics Company Profile

Nauticus Robotics, Inc develops ocean robots, cloud software, and services to the ocean industry. The company offers Aquanaut, an autonomous underwater vehicle with sensor suite, which provides capability to observe and inspect subsea assets or other subsea features; Olympic Arm, an all-electric manipulator designed for a variety of intervention tasks on work class remotely operated vehicles; and ToolKITT, a software platform, which consists of interrelated products for ocean sensing, manipulation, autonomous behaviors, survey, search and recovery, and manual intervention.