Kraken Robotics (OTCMKTS:KRKNF) Shares Down 7.9% – Here’s Why

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) traded down 7.9% on Thursday. The stock traded as low as $3.21 and last traded at $3.22. Approximately 460,010 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,218,130 shares. The stock had previously closed at $3.4950.

Analysts Set New Price Targets

A number of brokerages have issued reports on KRKNF. ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada initiated coverage on shares of Kraken Robotics in a research note on Tuesday, September 15th. They set a “moderate buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Kraken Robotics currently has an average rating of “Moderate Buy”.

Kraken Robotics Trading Down 5.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 1.22. The business has a 50-day moving average of $3.74 and a 200 day moving average of $4.76.

Kraken Robotics (OTCMKTS:KRKNF) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Kraken Robotics had a positive return on equity of 0.31% and a negative net margin of 6.91%. The company had revenue of $19.23 million during the quarter, compared to analyst estimates of $18.52 million. On average, equities research analysts anticipate that Kraken Robotics Inc. will post 0.05 EPS for the current year.

Kraken Robotics Company Profile

Kraken Robotics Inc is a Canadian marine technology company that develops advanced sensors, autonomous underwater systems and subsea power solutions. Founded in 2012, the company focuses on technologies that enable high-resolution imaging, data collection and autonomous operations in challenging underwater environments.

Its product portfolio includes synthetic aperture sonar systems, such as the AquaPix family, which are designed to produce detailed seabed imagery; underwater laser imaging and 3D measurement systems; autonomous underwater vehicles; and pressure-tolerant batteries and energy-storage systems for subsea applications.