Nauticus Robotics (NASDAQ:KITT) Major Shareholder Ltd. Transocean Sells 61,351 Shares

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Ltd. Transocean sold 61,351 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $0.81, for a total transaction of $49,694.31. Following the completion of the transaction, the insider owned 2,061,180 shares of the company’s stock, valued at approximately $1,669,555.80. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Ltd. Transocean also recently made the following trade(s):

• On Wednesday, December 3rd, Ltd. Transocean sold 2,021,920 shares of Nauticus Robotics stock. The shares were sold at an average price of $1.02, for a total value of $2,062,358.40.
• On Tuesday, December 2nd, Ltd. Transocean sold 32,839 shares of Nauticus Robotics stock. The stock was sold at an average price of $0.74, for a total value of $24,300.86.

Nauticus Robotics Stock Performance

KITT stock traded down $0.39 on Thursday, reaching $1.17. The company’s stock had a trading volume of 83,626,574 shares, compared to its average volume of 2,017,552. Nauticus Robotics, Inc. has a 52 week low of $0.71 and a 52 week high of $54.36. The company has a debt-to-equity ratio of 18.06, a current ratio of 0.21 and a quick ratio of 0.19. The company has a market capitalization of $16.04 million, a P/E ratio of -0.01 and a beta of -0.17. The firm has a fifty day moving average of $2.03 and a two-hundred day moving average of $5.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Nauticus Robotics in the first quarter worth about $37,000. Geode Capital Management LLC grew its stake 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. Finally, Osaic Holdings Inc. raised its holdings in shares of Nauticus Robotics by 164.1% in the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after purchasing an additional 56,035 shares in the last quarter. 20.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KITT. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Nauticus Robotics from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nauticus Robotics currently has an average rating of “Sell”.

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.