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

Kraken Robotics Inc. (OTCMKTS:KRKNF) gapped up before the market opened on Thursday . The stock had previously closed at $5.0750, but opened at $5.44. Kraken Robotics shares last traded at $5.3480, with a volume of 33,191 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets lowered shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Zacks Research raised Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Finally, Scotiabank restated an “outperform” rating on shares of Kraken Robotics in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Kraken Robotics Price Performance

The firm’s 50 day simple moving average is $5.63 and its two-hundred day simple moving average is $5.64.

Kraken Robotics (OTCMKTS:KRKNF) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $18.30 million.

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).