Nauticus Robotics (NASDAQ:KITT) Trading Down 2% – Should You Sell?

Shares of Nauticus Robotics, Inc. (NASDAQ:KITT) fell 2% during trading on Wednesday . The stock traded as low as $1.47 and last traded at $1.48. 132,799 shares were traded during mid-day trading, a decline of 64% from the average session volume of 373,694 shares. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Nauticus Robotics Trading Down 3.4%

The business’s 50-day moving average price is $2.56 and its 200-day moving average price is $5.43. The stock has a market cap of $7.15 million, a PE ratio of -0.02 and a beta of -0.26.

Nauticus Robotics (NASDAQ:KITT) last released its earnings results on Thursday, May 14th. The company reported ($2.46) EPS for the quarter. The company had revenue of $0.16 million during the quarter. Nauticus Robotics had a negative return on equity of 9,200.82% and a negative net margin of 1,292.09%.

Institutional Trading of Nauticus Robotics

Several institutional investors and hedge funds have recently bought and sold shares of KITT. Geode Capital Management LLC lifted its stake in Nauticus Robotics by 743.2% during the 2nd quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock valued at $324,000 after acquiring an additional 315,251 shares during the period. Osaic Holdings Inc. increased its holdings in 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 acquiring an additional 56,035 shares in the last quarter. Jane Street Group LLC purchased a new stake in Nauticus Robotics in the 4th quarter worth $90,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Nauticus Robotics during the fourth quarter worth $35,000. 20.50% of the stock is currently owned by institutional investors and hedge funds.

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.