Nauticus Robotics (NASDAQ:KITT) Major Shareholder Ltd. Transocean Sells 2,021,920 Shares of Stock

Nauticus Robotics, Inc. (NASDAQ:KITT) major shareholder Ltd. Transocean sold 2,021,920 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $1.02, for a total transaction of $2,062,358.40. Following the transaction, the insider owned 6,421 shares in the company, valued at approximately $6,549.42. This trade represents a 99.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, December 2nd, Ltd. Transocean sold 32,839 shares of Nauticus Robotics stock. The shares were sold at an average price of $0.74, for a total transaction of $24,300.86.
• On Monday, December 1st, Ltd. Transocean sold 61,351 shares of Nauticus Robotics stock. The shares were sold at an average price of $0.81, for a total value of $49,694.31.

Nauticus Robotics Trading Up 18.4%

Shares of NASDAQ:KITT opened at $1.39 on Friday. The stock has a market capitalization of $18.99 million, a price-to-earnings ratio of -0.01 and a beta of -0.17. The company has a debt-to-equity ratio of 18.06, a quick ratio of 0.19 and a current ratio of 0.21. The stock’s 50-day simple moving average is $1.99 and its two-hundred day simple moving average is $5.68. Nauticus Robotics, Inc. has a 52-week low of $0.71 and a 52-week high of $54.36.

Institutional Trading of Nauticus Robotics

Several institutional investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Nauticus Robotics in the 1st quarter worth approximately $37,000. Osaic Holdings Inc. raised its position 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 buying an additional 56,035 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Nauticus Robotics by 743.2% in the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock worth $324,000 after buying an additional 315,251 shares in the last quarter. Hedge funds and other institutional investors own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

KITT has been the subject of several recent research reports. 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nauticus Robotics presently 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.