Nauticus Robotics, Inc. (NASDAQ:KITT) Short Interest Update

Nauticus Robotics, Inc. (NASDAQ:KITT) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 2,240,000 shares, an increase of 73.6% from the May 31st total of 1,290,000 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 28,410,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Nauticus Robotics

An institutional investor recently raised its position in Nauticus Robotics stock. Adage Capital Partners GP L.L.C. boosted its stake in Nauticus Robotics, Inc. (NASDAQ:KITT) by 109.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,654 shares of the company’s stock after acquiring an additional 126,460 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.49% of Nauticus Robotics worth $428,000 as of its most recent SEC filing. 20.50% of the stock is owned by hedge funds and other institutional investors.

Nauticus Robotics Trading Down 7.7 %

Shares of KITT stock traded down $0.01 on Friday, reaching $0.14. 7,010,208 shares of the stock were exchanged, compared to its average volume of 80,722,536. The business’s 50 day moving average price is $0.17 and its 200 day moving average price is $0.31. The company has a market capitalization of $8.50 million, a price-to-earnings ratio of -0.11 and a beta of 0.06. Nauticus Robotics has a twelve month low of $0.11 and a twelve month high of $2.32.

Nauticus Robotics (NASDAQ:KITT) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.23) earnings per share for the quarter. The company had revenue of $0.46 million for the quarter.

Nauticus Robotics Company Profile

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.