Nauticus Robotics (NASDAQ:KITT) Releases Quarterly Earnings Results, Beats Estimates By $128.35 EPS

Nauticus Robotics (NASDAQ:KITT) posted its earnings results on Wednesday. The company reported ($1.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($129.60) by $128.35, Zacks reports. Nauticus Robotics had a negative net margin of 1,292.09% and a negative return on equity of 9,200.82%.

Nauticus Robotics Stock Up 3.4%

Shares of NASDAQ:KITT traded up $0.04 on Wednesday, hitting $1.22. The company had a trading volume of 529,807 shares, compared to its average volume of 454,041. The firm’s 50-day simple moving average is $1.12 and its two-hundred day simple moving average is $3.44. The firm has a market capitalization of $6.10 million, a price-to-earnings ratio of -0.02 and a beta of -0.21. Nauticus Robotics has a 1 year low of $0.75 and a 1 year high of $82.80.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wall Street Zen raised Nauticus Robotics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nauticus Robotics has an average rating of “Sell”.

Insider Transactions at Nauticus Robotics

In other Nauticus Robotics news, major shareholder Brian Isaac Dror sold 32,539 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,581,314.58. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 26.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nauticus Robotics

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Nauticus Robotics by 743.2% during 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 during the last quarter. Jane Street Group LLC purchased a new stake in shares of Nauticus Robotics in the fourth quarter worth $90,000. Osaic Holdings Inc. increased its holdings in shares of Nauticus Robotics by 164.1% during the second quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock valued at $81,000 after acquiring an additional 56,035 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Nauticus Robotics during the fourth quarter valued at $35,000. Institutional investors own 20.50% of the company’s stock.

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.