Nauticus Robotics, Inc. (NASDAQ:KITT) Sees Significant Drop in Short Interest

Nauticus Robotics, Inc. (NASDAQ:KITT) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 135,289 shares, a drop of 85.1% from the September 15th total of 907,880 shares. Approximately 16.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,198,580 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

Several brokerages have weighed in on KITT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a report on Friday, July 17th. Wall Street Zen cut Nauticus Robotics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Nauticus Robotics Price Performance

KITT stock traded down $0.01 during mid-day trading on Friday, hitting $1.48. 92,999 shares of the company were exchanged, compared to its average volume of 182,096. The firm has a fifty day simple moving average of $4.16 and a 200 day simple moving average of $9.56. Nauticus Robotics has a twelve month low of $1.38 and a twelve month high of $168.48.

Nauticus Robotics (NASDAQ:KITT) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.25) EPS for the quarter, topping analysts’ consensus estimates of ($466.56) by $465.31. Nauticus Robotics had a negative net margin of 1,758.70% and a negative return on equity of 1,067.00%. The firm had revenue of $0.89 million during the quarter, compared to the consensus estimate of $2.00 million.

Nauticus Robotics Company Profile

Nauticus Robotics, Inc develops autonomous and remotely operated robotic systems for subsea operations. The company’s technologies are designed to perform inspection, maintenance, intervention, and data-collection tasks in offshore and underwater environments, with applications across the energy, defense, and ocean industries.

Its product portfolio includes Aquanaut, an autonomous underwater vehicle designed to travel without a traditional tether and perform subsea inspection and intervention work, as well as Hydronaut, a surface or subsea support platform intended to extend the operating capabilities of Nauticus’ robotic systems.