Nauticus Robotics, Inc. (NASDAQ:KITT) Sees Significant Decrease in Short Interest

Nauticus Robotics, Inc. (NASDAQ:KITT) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 217,700 shares, a decline of 12.5% from the August 31st total of 248,800 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily volume of 828,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Nauticus Robotics

An institutional investor recently bought a new position in Nauticus Robotics stock. Mercer Global Advisors Inc. ADV purchased a new position in Nauticus Robotics, Inc. (NASDAQ:KITT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 400,000 shares of the company’s stock, valued at approximately $54,000. Mercer Global Advisors Inc. ADV owned about 0.64% of Nauticus Robotics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 20.50% of the company’s stock.

Nauticus Robotics Price Performance

Shares of NASDAQ KITT opened at $1.42 on Friday. The stock has a market cap of $88.65 million, a PE ratio of -1.11 and a beta of 0.02. Nauticus Robotics has a 1 year low of $1.24 and a 1 year high of $70.92. The firm has a fifty day moving average price of $2.10 and a 200-day moving average price of $5.09.

Nauticus Robotics (NASDAQ:KITT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($4.60) earnings per share (EPS) for the quarter. The business had revenue of $0.50 million during the quarter.

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.