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 business had revenue of $1.98 million during the quarter.

Nauticus Robotics Stock Down 8.4%

Shares of NASDAQ:KITT opened at $1.31 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 18.06. The stock has a fifty day simple moving average of $2.68 and a two-hundred day simple moving average of $6.45. Nauticus Robotics has a 12-month low of $1.21 and a 12-month high of $54.36. The stock has a market capitalization of $8.54 million, a price-to-earnings ratio of -0.01 and a beta of -0.20.

Wall Street Analysts Forecast Growth

KITT has been the topic of several research reports. Wall Street Zen lowered Nauticus Robotics from a “hold” rating to a “strong sell” rating in a research report on Sunday, August 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nauticus Robotics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Trading of Nauticus Robotics

A hedge fund recently raised its stake in Nauticus Robotics stock. Geode Capital Management LLC boosted its stake in shares of Nauticus Robotics, Inc. (NASDAQ:KITT) by 743.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 357,669 shares of the company’s stock after purchasing an additional 315,251 shares during the period. Geode Capital Management LLC owned about 0.96% of Nauticus Robotics worth $324,000 at the end of the most recent quarter. Institutional investors own 20.50% of the company’s stock.

About Nauticus Robotics

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.