Kraken Robotics (OTCMKTS:KRKNF) Hits New 12-Month Low – Here’s Why

Kraken Robotics Inc. (OTCMKTS:KRKNF) reached a new 52-week low on Monday. The company traded as low as $3.04 and last traded at $3.07, with a volume of 554535 shares. The stock had previously closed at $3.23.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KRKNF shares. ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Royal Bank Of Canada assumed coverage on Kraken Robotics in a report on Tuesday, September 15th. They issued a “moderate buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Kraken Robotics Stock Down 6.0%

The company’s 50-day moving average price is $3.96 and its two-hundred day moving average price is $5.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 1.22.

Kraken Robotics (OTCMKTS:KRKNF) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $19.23 million for the quarter, compared to analysts’ expectations of $18.52 million. Kraken Robotics had a negative net margin of 6.91% and a positive return on equity of 0.31%. On average, equities analysts expect that Kraken Robotics Inc. will post 0.05 EPS for the current year.

About Kraken Robotics

Kraken Robotics Inc is a Canadian marine technology company that develops advanced sensors, autonomous underwater vehicles and subsea equipment. Its technologies are designed for underwater imaging, mapping, surveillance and data collection in challenging marine environments.

The company’s product portfolio includes synthetic aperture sonar systems, three-dimensional acoustic imaging technology, autonomous underwater vehicles and underwater battery systems. Kraken’s solutions are used in applications such as seabed mapping, mine countermeasures, offshore energy, defense, marine research and infrastructure inspection.

Founded in 2012 and headquartered in St.