Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Still a Buy?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s stock price gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KRKNF. ATB Cormark Capital Markets downgraded Kraken Robotics from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Zacks Research raised Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. National Bank Financial lowered Kraken Robotics from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 14th. Scotiabank reissued an “outperform” rating on shares of Kraken Robotics in a research note on Wednesday, February 18th. Finally, Desjardins upgraded 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Kraken Robotics presently has a consensus rating of “Hold”.

Kraken Robotics Stock Up 3.7%

The firm’s 50 day moving average is $6.25 and its 200-day moving average is $5.00.

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).