Kraken Robotics (OTCMKTS:KRKNF) Rating Increased to Strong-Buy at Scotiabank

Kraken Robotics (OTCMKTS:KRKNF) was upgraded by Scotiabank to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. ATB Cormark Capital Markets cut Kraken Robotics from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Desjardins raised Kraken Robotics to a “moderate buy” rating in a report on Thursday, March 12th. Finally, Zacks Research upgraded Kraken Robotics to a “hold” rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Kraken Robotics Stock Performance

OTCMKTS KRKNF opened at $4.29 on Tuesday. The company has a fifty day moving average of $5.20 and a 200 day moving average of $5.69. Kraken Robotics has a 1 year low of $2.36 and a 1 year high of $8.13.

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