Nauticus Robotics (NASDAQ:KITT) Rating Lowered to Strong Sell at Wall Street Zen

Nauticus Robotics (NASDAQ:KITT) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Nauticus Robotics Trading Down 0.3%

Shares of NASDAQ KITT opened at $0.91 on Friday. The stock’s 50-day moving average is $1.10 and its 200 day moving average is $3.33. The stock has a market cap of $4.55 million, a price-to-earnings ratio of -0.02 and a beta of -0.21. Nauticus Robotics has a 1-year low of $0.75 and a 1-year high of $82.80.

Nauticus Robotics (NASDAQ:KITT) last issued its earnings results on Wednesday, August 12th. The company reported ($1.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($77.76) by $76.51. The business had revenue of $0.89 million during the quarter, compared to analyst estimates of $2.00 million. Nauticus Robotics had a negative return on equity of 1,067.00% and a negative net margin of 1,758.70%.

Insider Activity

In related news, major shareholder Brian Isaac Dror sold 32,539 shares of Nauticus Robotics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $2.02, for a total value of $65,728.78. Following the transaction, the insider directly owned 782,829 shares of the company’s stock, valued at $1,581,314.58. The trade was a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 26.30% of the company’s stock.

Institutional Investors Weigh In On Nauticus Robotics

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Nauticus Robotics by 743.2% in the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock worth $324,000 after buying an additional 315,251 shares in the last quarter. Jane Street Group LLC bought a new stake in Nauticus Robotics during the 4th quarter valued at approximately $90,000. Osaic Holdings Inc. grew its holdings in shares of Nauticus Robotics by 164.1% during the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after acquiring an additional 56,035 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in shares of Nauticus Robotics during the 4th quarter worth approximately $35,000. 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.