Nauticus Robotics Inc. (NASDAQ:KITT) shares are trending on Wednesday.
Shares of the Houston-based autonomous subsea robots and software developer jumped 24.67% to $0.99 in after-hours trading on Tuesday after announcing both of its Comanche remotely operated vehicle (ROV) systems are now working on commercial offshore projects.
Nauticus Robotics made the announcement after markets closed on Tuesday. In the regular session, KITT stock closed at $0.80, down 1.86%, according to Benzinga Pro data.
Two Coasts, One Milestone
According to the company, one Comanche unit is supporting offshore wind development in the U.S. Northeast, while the second is conducting platform inspection work along the Gulf Coast.
Nauticus said the concurrent deployments mark increased utilization of both ROV assets and represent commercial activity in two distinct U.S. offshore markets simultaneously.
Steve Walsh, Vice President of Sales at Nauticus, said, “Having both Comanche ROV systems working commercially is an important operating milestone for Nauticus.” He added the current activity level represents a “meaningful improvement” in asset utilization.
Bids Pending, No Guidance Given
Nauticus has also submitted bids and proposals for ROV projects in several U.S. and international offshore locations. These projects are not included in the company’s current operating figures and Nauticus has not said that any of them will result in contracts.
The company does not provide revenue guidance, noting the operational update reflects activity only as of the announcement date and shouldn’t be read as a forecast of future results.
Trading Metrics, Technical Analysis
Nauticus has a market capitalization of $5.96 million, a 52-week high of $55.44 and a 52-week low of $0.75.
The Relative Strength Index (RSI) of KITT stands at 38.37.
The small-cap tech stock has dropped 98.30% over the past 12 months.
Currently, KIIT is trading close to its annual low.
Benzinga’s Edge Stock Rankings indicate that Nauticus Robotics stock is experiencing a negative price trend across all time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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