Short Interest in Nauticus Robotics, Inc. (NASDAQ:KITT) Declines By 39.4%

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 1,112,605 shares, a drop of 39.4% from the December 31st total of 1,836,089 shares. Approximately 11.3% of the shares of the company are sold short. Based on an average daily volume of 4,034,753 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 4,034,753 shares, the days-to-cover ratio is currently 0.3 days. Approximately 11.3% of the shares of the company are sold short.

Nauticus Robotics Price Performance

Shares of NASDAQ KITT traded down $0.01 on Friday, hitting $1.05. The company’s stock had a trading volume of 2,360,455 shares, compared to its average volume of 5,669,775. Nauticus Robotics has a 12-month low of $0.69 and a 12-month high of $20.79. The company has a market capitalization of $14.40 million, a price-to-earnings ratio of -0.01 and a beta of -0.17. The stock has a 50 day moving average of $0.96 and a 200-day moving average of $3.49.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Insider Activity at Nauticus Robotics

In related news, major shareholder Ltd. Transocean sold 2,021,920 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $1.02, for a total value of $2,062,358.40. Following the transaction, the insider directly owned 6,421 shares of the company’s stock, valued at approximately $6,549.42. This trade represents a 99.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder International Ltd Transocean sold 28,185 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $0.90, for a total transaction of $25,366.50. Following the sale, the insider directly owned 2,122,531 shares of the company’s stock, valued at $1,910,277.90. The trade was a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,144,295 shares of company stock valued at $2,161,720. Insiders own 28.20% of the company’s stock.

Hedge Funds Weigh In On Nauticus Robotics

An institutional investor recently raised its position in Nauticus Robotics stock. Osaic Holdings Inc. raised its holdings in shares of Nauticus Robotics, Inc. (NASDAQ:KITT) by 164.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,190 shares of the company’s stock after purchasing an additional 56,035 shares during the quarter. Osaic Holdings Inc. owned 0.21% of Nauticus Robotics worth $81,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.50% of the company’s stock.

About Nauticus Robotics

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.