Nauticus Robotics, Inc. (NASDAQ:KITT) Short Interest Down 81.8% in April

Nauticus Robotics, Inc. (NASDAQ:KITT) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 617,155 shares, a drop of 81.8% from the April 15th total of 3,382,377 shares. Based on an average trading volume of 617,422 shares, the short-interest ratio is presently 1.0 days. Currently, 19.2% of the company’s shares are short sold.

Nauticus Robotics Stock Performance

Shares of KITT stock traded down $0.15 during trading hours on Tuesday, reaching $2.26. The company had a trading volume of 145,362 shares, compared to its average volume of 553,939. The stock has a fifty day moving average of $4.23 and a 200-day moving average of $7.10. The company has a market capitalization of $9.86 million, a price-to-earnings ratio of -0.03 and a beta of -0.22. Nauticus Robotics has a 12-month low of $2.12 and a 12-month high of $87.12.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KITT. Geode Capital Management LLC grew its position in 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 acquiring an additional 315,251 shares during the period. Jane Street Group LLC purchased a new position in Nauticus Robotics in the fourth quarter worth approximately $90,000. Osaic Holdings Inc. lifted 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 purchasing an additional 56,035 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Nauticus Robotics during the fourth quarter worth $35,000. 20.50% of the stock is currently owned by hedge funds and other institutional investors.

Nauticus Robotics Company Profile

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.