Nauticus Robotics (NASDAQ:KITT) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Nauticus Robotics (NASDAQ:KITT) from a sell rating to a strong sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Nauticus Robotics Trading Down 11.7%

KITT opened at $0.91 on Friday. The company has a market cap of $4.55 million, a price-to-earnings ratio of -0.02 and a beta of -0.21. The company’s 50 day moving average is $1.10 and its 200 day moving average is $3.38. Nauticus Robotics has a 12-month low of $0.75 and a 12-month high of $82.80.

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

Insider Activity

In other news, major shareholder Brian Isaac Dror sold 32,539 shares of the 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 completion of the sale, the insider directly owned 782,829 shares of the company’s stock, valued at $1,581,314.58. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KITT. Geode Capital Management LLC increased its stake in Nauticus Robotics by 743.2% in the 2nd 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 position in shares of Nauticus Robotics in the fourth quarter worth about $90,000. Osaic Holdings Inc. boosted its stake in shares of Nauticus Robotics by 164.1% in the second 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 stake in shares of Nauticus Robotics during the fourth quarter worth about $35,000. 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.