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

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 991,100 shares, a drop of 49.4% from the January 15th total of 1,960,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 8,640,000 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at Nauticus Robotics

In related news, CEO John W. Gibson, Jr. acquired 52,157 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was purchased at an average cost of $1.03 per share, for a total transaction of $53,721.71. Following the completion of the transaction, the chief executive officer now directly owns 71,713 shares of the company’s stock, valued at approximately $73,864.39. The trade was a 266.71 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nauticus Robotics

A hedge fund recently bought a new stake in Nauticus Robotics stock. DnB Asset Management AS acquired a new position in shares of Nauticus Robotics, Inc. (NASDAQ:KITT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 52,880 shares of the company’s stock, valued at approximately $82,000. DnB Asset Management AS owned about 0.82% of Nauticus Robotics as of its most recent SEC filing. Hedge funds and other institutional investors own 20.50% of the company’s stock.

Nauticus Robotics Trading Down 6.5 %

KITT stock traded down $0.11 during mid-day trading on Friday, hitting $1.57. 4,475,055 shares of the company were exchanged, compared to its average volume of 12,861,690. The business has a 50 day simple moving average of $1.85 and a 200-day simple moving average of $1.66. The stock has a market capitalization of $10.06 million, a PE ratio of -0.03 and a beta of -0.10. Nauticus Robotics has a 1-year low of $0.82 and a 1-year high of $15.66.

Nauticus Robotics (NASDAQ:KITT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($4.27) earnings per share (EPS) for the quarter. The business had revenue of $0.37 million for the quarter.

About Nauticus Robotics

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.