Nauticus Robotics, Inc. (NASDAQ:KITT) Sees Large Growth in Short Interest

Nauticus Robotics, Inc. (NASDAQ:KITT) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 2,686,934 shares, a growth of 51.4% from the January 29th total of 1,775,005 shares. Based on an average daily volume of 2,964,400 shares, the days-to-cover ratio is currently 0.9 days. Approximately 27.3% of the shares of the stock are sold short. Approximately 27.3% of the shares of the stock are sold short. Based on an average daily volume of 2,964,400 shares, the days-to-cover ratio is currently 0.9 days.

Nauticus Robotics Stock Performance

Shares of NASDAQ KITT traded up $0.02 during mid-day trading on Monday, reaching $0.77. 2,346,841 shares of the company’s stock were exchanged, compared to its average volume of 2,933,683. Nauticus Robotics has a 52-week low of $0.69 and a 52-week high of $12.51. The company’s 50-day moving average is $0.93 and its 200-day moving average is $2.30.

Insider Buying and Selling

In other news, major shareholder Ltd. Transocean sold 2,021,920 shares of Nauticus Robotics stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.02, for a total transaction of $2,062,358.40. Following the sale, the insider owned 6,421 shares in the company, valued at $6,549.42. This trade represents a 99.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 2,055,474 shares of company stock valued at $2,087,246. 28.20% of the stock is currently owned by insiders.

Institutional Trading of Nauticus Robotics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of Nauticus Robotics by 743.2% during 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 during the period. Jane Street Group LLC acquired a new position in shares of Nauticus Robotics during the 4th quarter worth $90,000. Osaic Holdings Inc. boosted its position 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 worth $81,000 after buying an additional 56,035 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Nauticus Robotics in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

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.