Nauticus Robotics (NASDAQ:KITT) Announces Quarterly Earnings Results

Nauticus Robotics (NASDAQ:KITT) posted its earnings results on Friday. The company reported ($2.63) earnings per share for the quarter, Zacks reports. The company had revenue of $1.98 million for the quarter.

Nauticus Robotics Trading Down 8.4%

Shares of NASDAQ:KITT traded down $0.12 on Friday, reaching $1.31. 639,506 shares of the company traded hands, compared to its average volume of 5,314,075. The stock has a market capitalization of $8.54 million, a P/E ratio of -0.01 and a beta of -0.20. The business’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $6.47. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 18.06. Nauticus Robotics has a 52 week low of $1.21 and a 52 week high of $54.36.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Wednesday, October 8th. Wall Street Zen downgraded 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.com, Nauticus Robotics currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Nauticus Robotics

A hedge fund recently raised its stake in Nauticus Robotics stock. Geode Capital Management LLC raised its stake in Nauticus Robotics, Inc. (NASDAQ:KITT) by 743.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 357,669 shares of the company’s stock after purchasing an additional 315,251 shares during the quarter. Geode Capital Management LLC owned 0.96% of Nauticus Robotics worth $324,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.50% of the company’s stock.

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.