Nauticus Robotics, Inc. (NASDAQ:KITT) Sees Large Drop in Short Interest

Nauticus Robotics, Inc. (NASDAQ:KITT) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 449,000 shares, a decline of 27.0% from the November 30th total of 615,300 shares. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is currently 0.4 days. Currently, 8.1% of the shares of the stock are short sold.

Nauticus Robotics Trading Up 21.3 %

NASDAQ:KITT traded up $0.38 during midday trading on Friday, hitting $2.16. 15,812,503 shares of the company traded hands, compared to its average volume of 850,670. The firm’s fifty day moving average is $1.18 and its 200-day moving average is $2.32. The firm has a market capitalization of $13.84 million, a P/E ratio of -0.04 and a beta of -0.02. Nauticus Robotics has a 12-month low of $0.82 and a 12-month high of $28.36.

Insider Buying and Selling

In related news, CEO John W. Gibson, Jr. acquired 52,157 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were acquired at an average cost of $1.03 per share, for a total transaction of $53,721.71. Following the completion of the transaction, the chief executive officer now directly owns 71,713 shares in the company, valued at approximately $73,864.39. This trade represents a 266.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nauticus Robotics

A hedge fund recently bought a new stake in Nauticus Robotics stock. Mercer Global Advisors Inc. ADV bought a new stake in shares of Nauticus Robotics, Inc. (NASDAQ:KITT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 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 & Exchange Commission. 20.50% of the stock is currently owned by institutional investors.

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.