Nauticus Robotics and Shell have signed a service contract to provide inspection services for a Shell subsea field development in the Gulf of Mexico. The collaboration will be focused on conducting inspections on the subsea field, with potential for future inspection service projects. Nauticus Robotics’ autonomous subsea robot, Aquanaut, will serve as the primary workforce for this venture. Aquanaut is capable of carrying out both noncontact and contact inspections across a complex subsea environment without the need for an umbilical connection.
To ensure the safety of operations, a remote pilot will collaborate with Aquanaut using Nauticus’ cutting-edge acoustic communications link. While the financial details of the contract remain undisclosed, both Nauticus Robotics and Shell are committed to the success of the partnership and the efficient execution of their inspection services.
In other news, the stock performance of KITT on September 14, 2023, showed some interesting movements. The stock opened at $2.25, reached a day’s range of $1.86 to $2.32, and closed at $2.03. The trading volume for KITT on that day was 267,643 shares. In terms of financial performance, KITT reported earnings growth of -6,240.58% last year but managed to rebound with a growth of +31.25% this year. The price-to-earnings (P/E) ratio for KITT stock is listed as NM, and the price-to-sales ratio is reported as 6.21.
Looking ahead, KITT is expected to release its next financial report on November 13, 2023, with an estimated earnings per share (EPS) of -$0.14 for the current quarter. In the last fiscal year, KITT reported annual revenue of $11.4 million but also incurred an annual loss of -$28.3 million. The company operates in the industrial machinery industry within the producer manufacturing sector.
Meanwhile, Nauticus Robotics Inc’s stock performance showed positive sentiment among analysts on September 14, 2023. Based on the information provided, three analysts offered 12-month price forecasts for the company’s stock, with a median target of $3.40. The high estimate was $10.00, and the low estimate was $2.50. Three polled investment analysts recommended buying Nauticus Robotics Inc stock, maintaining a steady rating since May. The current quarter’s earnings per share were reported as -$0.14, with quarter sales of $3.0 million. The financial results will be reported on November 13.
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