Kraken Robotics (OTCMKTS:KRKNF) Stock Price Down 7.9% – Time to Sell?

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

Wall Street Analysts Forecast Growth

KRKNF has been the subject of several recent analyst reports. Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research note on Tuesday, July 7th. ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Finally, Royal Bank Of Canada started coverage on shares of Kraken Robotics in a research report on Tuesday, September 15th. They issued a “moderate buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Kraken Robotics has an average rating of “Moderate Buy”.

Kraken Robotics Stock Down 9.0%

The company’s 50 day moving average price is $3.78 and its 200-day moving average price is $4.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.33.

Kraken Robotics (OTCMKTS:KRKNF) last released its earnings results on Thursday, August 27th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $19.23 million during the quarter, compared to the consensus estimate of $18.52 million. Kraken Robotics had a positive return on equity of 0.31% and a negative net margin of 6.91%. Equities analysts forecast that Kraken Robotics Inc. will post 0.05 earnings per share 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.