Kraken Robotics (OTCMKTS:KRKNF) Reaches New 52-Week Low – Here’s Why

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s stock price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $2.82 and last traded at $2.85, with a volume of 54,081 shares. The stock had previously closed at $3.12.

Analyst Upgrades and Downgrades

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

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.33. The business’s 50 day simple moving average is $3.66 and its 200-day simple moving average is $4.67.

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

About Kraken Robotics

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.