Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Down – Here’s What Happened

Kraken Robotics Inc. (OTCMKTS:KRKNF) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.1155, but opened at $4.89. Kraken Robotics shares last traded at $4.9465, with a volume of 115,554 shares traded.

Analysts Set New Price Targets

KRKNF has been the subject of several recent analyst reports. ATB Cormark Capital Markets cut shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Scotiabank reiterated an “outperform” rating on shares of Kraken Robotics in a report on Wednesday, February 18th. Zacks Research upgraded shares of Kraken Robotics to a “hold” rating in a report on Friday, March 13th. Finally, Desjardins upgraded shares of Kraken Robotics to a “moderate buy” rating in a report on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kraken Robotics currently has an average rating of “Hold”.

Kraken Robotics Stock Up 2.5%

The business’s 50-day moving average price is $5.72 and its 200-day moving average price is $5.61.

Kraken Robotics (OTCMKTS:KRKNF) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $18.30 million.

About Kraken Robotics

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).