Nauticus Robotics (NASDAQ:KITT) Major Shareholder Ltd. Transocean Sells 2,021,920 Shares

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Ltd. Transocean sold 2,021,920 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $1.02, for a total transaction of $2,062,358.40. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Ltd. Transocean also recently made the following trade(s):

• On Tuesday, December 2nd, Ltd. Transocean sold 32,839 shares of Nauticus Robotics stock. The stock was sold at an average price of $0.74, for a total value of $24,300.86.
• On Monday, December 1st, Ltd. Transocean sold 61,351 shares of Nauticus Robotics stock. The stock was sold at an average price of $0.81, for a total value of $49,694.31.

Nauticus Robotics Price Performance

Shares of Nauticus Robotics stock traded down $0.39 during mid-day trading on Thursday, reaching $1.17. 83,395,025 shares of the stock traded hands, compared to its average volume of 2,016,039. The stock has a market capitalization of $16.04 million, a PE ratio of -0.01 and a beta of -0.17. The business has a 50-day moving average of $2.03 and a 200 day moving average of $5.71. Nauticus Robotics, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $54.36. The company has a quick ratio of 0.19, a current ratio of 0.21 and a debt-to-equity ratio of 18.06.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Nauticus Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Nauticus Robotics in the 1st quarter valued at approximately $37,000. Geode Capital Management LLC grew its stake in shares of Nauticus Robotics by 743.2% in the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock valued at $324,000 after buying an additional 315,251 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings 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 buying an additional 56,035 shares during the period. 20.50% of the stock is currently owned by institutional investors and hedge funds.

About Nauticus Robotics

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.