Nauticus Robotics, Inc. (NASDAQ:KITT) Short Interest Down 59.6% in May

Nauticus Robotics, Inc. (NASDAQ:KITTGet Free Report) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,290,000 shares, a decline of 59.6% from the May 15th total of 3,190,000 shares. Based on an average daily trading volume, of 22,330,000 shares, the short-interest ratio is presently 0.1 days. Approximately 4.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nauticus Robotics stock. Adage Capital Partners GP L.L.C. grew its position in Nauticus Robotics, Inc. (NASDAQ:KITTFree Report) by 109.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,654 shares of the company’s stock after acquiring an additional 126,460 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.49% of Nauticus Robotics worth $428,000 at the end of the most recent quarter. 20.50% of the stock is currently owned by hedge funds and other institutional investors.

Nauticus Robotics Price Performance

KITT stock traded down $0.08 during midday trading on Wednesday, hitting $0.19. The company’s stock had a trading volume of 66,915,066 shares, compared to its average volume of 15,323,718. Nauticus Robotics has a twelve month low of $0.11 and a twelve month high of $2.49. The company’s fifty day moving average price is $0.19 and its 200 day moving average price is $0.39. The stock has a market capitalization of $12.12 million, a P/E ratio of -0.15 and a beta of 0.06.

Nauticus Robotics (NASDAQ:KITTGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $0.46 million for the quarter.

About Nauticus Robotics

(Get Free Report)

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.

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