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

Nauticus Robotics, Inc. (NASDAQ:KITT) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 4,321,224 shares, a decline of 20.5% from the March 15th total of 5,434,572 shares. Based on an average daily trading volume, of 1,948,408 shares, the days-to-cover ratio is presently 2.2 days. Approximately 43.9% of the shares of the company are sold short.

Nauticus Robotics Price Performance

Shares of NASDAQ KITT traded down $0.10 during trading hours on Friday, reaching $0.41. The stock had a trading volume of 5,884,848 shares, compared to its average volume of 1,800,469. The business’s fifty day moving average is $0.68 and its two-hundred day moving average is $1.19. The company has a market cap of $5.55 million and a price-to-earnings ratio of -0.04. Nauticus Robotics has a twelve month low of $0.40 and a twelve month high of $12.51.

Nauticus Robotics’s stock is scheduled to reverse split on Tuesday, April 21st. The 1-8 reverse split was announced on Friday, April 17th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, April 20th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KITT. Geode Capital Management LLC raised its stake in Nauticus Robotics by 743.2% during the second quarter. Geode Capital Management LLC now owns 357,669 shares of the company’s stock worth $324,000 after acquiring an additional 315,251 shares in the last quarter. Jane Street Group LLC acquired a new position in Nauticus Robotics during the fourth quarter worth $90,000. Osaic Holdings Inc. raised its stake in Nauticus Robotics by 164.1% during the second quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after acquiring an additional 56,035 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Nauticus Robotics during the fourth quarter worth $35,000. 20.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

About Nauticus Robotics

Nauticus Robotics, Inc (NASDAQ: KITT) is a maritime robotics company focused on developing and deploying uncrewed surface and subsea vessels for inspection, survey and maintenance applications. The company’s solutions combine purpose-built hardware with advanced autonomy software and sensor integration, allowing operators to conduct offshore and in-shore missions without personnel aboard. By digitizing routine vessel operations, Nauticus Robotics aims to reduce the time, cost and risk associated with traditional crewed marine services.

The company’s product portfolio includes modular uncrewed surface vessels (USVs) and remotely operated vehicles (ROVs) equipped with high-resolution sonar, cameras and other environmental sensors.