Kraken Robotics (OTCMKTS:KRKNF) Shares Down 7.7% – What’s Next?

Kraken Robotics Inc. (OTCMKTS:KRKNF) shares fell 7.7% during mid-day trading on Monday . The stock traded as low as $5.09 and last traded at $5.12. 702,430 shares traded hands during trading, a decline of 51% from the average session volume of 1,423,673 shares. The stock had previously closed at $5.55.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KRKNF shares. 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. Zacks Research raised shares of Kraken Robotics to a “hold” rating in a research report on Friday, March 13th. Finally, Desjardins raised Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kraken Robotics currently has an average rating of “Hold”.

Kraken Robotics Trading Up 0.0%

The firm’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $5.68.

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