Nauticus Robotics (NASDAQ:KITT) Releases Quarterly Earnings Results, Beats Estimates By $128.35 EPS

Nauticus Robotics (NASDAQ:KITT) posted its quarterly earnings results on Wednesday. The company reported ($1.25) EPS for the quarter, topping the consensus estimate of ($129.60) by $128.35, Zacks reports. Nauticus Robotics had a negative return on equity of 9,200.82% and a negative net margin of 1,292.09%.

Nauticus Robotics Price Performance

Shares of NASDAQ:KITT traded up $0.04 during midday trading on Wednesday, reaching $1.22. 529,807 shares of the company’s stock were exchanged, compared to its average volume of 454,041. The firm’s 50 day simple moving average is $1.12 and its two-hundred day simple moving average is $3.44. The stock has a market cap of $6.10 million, a price-to-earnings ratio of -0.02 and a beta of -0.21. Nauticus Robotics has a fifty-two week low of $0.75 and a fifty-two week high of $82.80.

Insider Transactions at Nauticus Robotics

In other Nauticus Robotics news, major shareholder Brian Isaac Dror sold 32,539 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $2.02, for a total value of $65,728.78. Following the transaction, the insider owned 782,829 shares of the company’s stock, valued at $1,581,314.58. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 26.30% of the company’s stock.

Institutional Investors Weigh In On Nauticus Robotics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in shares of Nauticus Robotics in the fourth quarter valued at approximately $90,000. Geode Capital Management LLC grew its holdings in shares of Nauticus Robotics by 428.8% in the fourth quarter. Geode Capital Management LLC now owns 214,689 shares of the company’s stock valued at $165,000 after purchasing an additional 174,086 shares in the last quarter. Osaic Holdings Inc. increased its stake in Nauticus Robotics by 164.1% during the 2nd quarter. Osaic Holdings Inc. now owns 90,190 shares of the company’s stock worth $81,000 after buying an additional 56,035 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in Nauticus Robotics during the 4th quarter worth approximately $35,000. 20.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on KITT. Wall Street Zen upgraded shares of Nauticus Robotics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nauticus Robotics in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average 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.