Why Nauticus Robotics Stock Is Soaring Today

Nauticus Robotics Inc KITT shares are trading higher Wednesday after the company said it was awarded a second multi-million dollar contract by the U.S. Defense Innovation Unit for the development of an amphibious unmanned system.

The amphibious unmanned system will utilize the company's autonomous command and control software platform, ToolKITT. ToolKITT is currently being utilized aboard the U.S. Navy's Defender Mission Specialist remotely operated vehicle systems to advance the vehicle with more autonomous behaviors.

"We are thrilled with the additional work the DIU and the U.S. Marine Corps have awarded us to continue providing leading maritime robotics and autonomy solutions to assist the warfighter," said Ed Tovar, Director of Business Development for Defense Systems at Nauticus. 

Nauticus is a developer of autonomous ocean robots and associated services. ToolKITT is a unified software platform utilizing advances in machine learning to identify, classify and perform complex underwater activities, which can be applied to remove, detect, identify, inspect and neutralize hazards underwater.

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KITT Price Action: Nauticus has a 52-week high of $9.05 and a 52-week low of $3.14.

The stock was up 65.5% at $5.34 at time of publication, according to Benzinga Pro.

Photo: Pexels from Pixabay.