Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Here’s Why

Kraken Robotics Inc. (OTCMKTS:KRKNF) gapped up prior to trading on Wednesday . The stock had previously closed at $5.79, but opened at $6.2750. Kraken Robotics shares last traded at $6.0735, with a volume of 106,257 shares changing hands.

Analyst Upgrades and Downgrades

KRKNF has been the topic of a number of recent research reports. ATB Cormark Capital Markets cut Kraken Robotics from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Zacks Research upgraded Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Scotiabank reiterated an “outperform” rating on shares of Kraken Robotics in a report on Wednesday, February 18th. Desjardins raised Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. Finally, National Bank Financial cut Kraken Robotics from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Kraken Robotics currently has an average rating of “Hold”.

Kraken Robotics Price Performance

The business’s fifty day simple moving average is $6.27 and its 200 day simple moving average is $5.02.

Kraken Robotics Company Profile

Kraken Robotics Ltd. is a marine technology company headquartered in St. John’s, Newfoundland and Labrador, Canada. The company specializes in the design, development and manufacture of advanced underwater robotic platforms and sensor systems. Kraken’s solutions are built to support a range of subsea activities, from high-resolution seabed mapping and inspection to autonomous data collection and remote operations.

Kraken’s product suite includes synthetic aperture sonar, side-scan and interferometric sonar arrays, laser imaging systems, and acoustic ranging sensors, as well as autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs).