Nauticus Robotics (NASDAQ:KITT) Releases Earnings Results, Beats Estimates By $465.31 EPS

Nauticus Robotics (NASDAQ:KITT) issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($466.56) by $465.31, Zacks reports. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $2.00 million. Nauticus Robotics had a negative net margin of 1,758.70% and a negative return on equity of 1,067.00%.

Nauticus Robotics Stock Down 6.1%

NASDAQ:KITT opened at $0.49 on Friday. The business’s 50-day moving average price is $0.81 and its 200 day moving average price is $2.01. The firm has a market cap of $3.36 million, a P/E ratio of -0.01 and a beta of -0.20. Nauticus Robotics has a 52-week low of $0.48 and a 52-week high of $29.20.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KITT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Friday, July 17th. Wall Street Zen lowered shares of Nauticus Robotics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Nauticus Robotics Company Profile

Nauticus Robotics, Inc is a Houston, Texas-based developer of autonomous robotics and related software for subsea and maritime operations. The company focuses on reducing the need for human divers and conventionally operated support vessels in offshore energy, defense, communications, and environmental applications.

Its principal technology includes Aquanaut, an autonomous underwater vehicle designed to travel through the water independently and perform subsea inspection, maintenance, and intervention tasks.