Nauticus Robotics (NASDAQ:KITT) Major Shareholder Brian Isaac Dror Sells 32,539 Shares of Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Brian Isaac Dror sold 32,539 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $2.02, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Nauticus Robotics Stock Up 8.8%

Shares of KITT opened at $0.87 on Wednesday. The firm has a market cap of $4.35 million, a price-to-earnings ratio of -0.01 and a beta of -0.23. The company’s fifty day moving average is $1.28 and its 200-day moving average is $3.95. Nauticus Robotics, Inc. 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 Thursday, May 14th. The company reported ($2.46) earnings per share (EPS) for the quarter. Nauticus Robotics had a negative return on equity of 9,200.82% and a negative net margin of 1,292.09%.The company had revenue of $0.16 million for the quarter.

Institutional Investors Weigh In On Nauticus Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 315,251 shares during the last quarter. Jane Street Group LLC bought a new stake in Nauticus Robotics in the fourth quarter valued at about $90,000. Osaic Holdings Inc. increased its holdings in Nauticus Robotics by 164.1% in the second quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock valued at $81,000 after purchasing an additional 56,035 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Nauticus Robotics in the fourth quarter valued at about $35,000. 20.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Nauticus Robotics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus 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.