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

Kraken Robotics Inc. (OTCMKTS:KRKNF) dropped 7.7% during mid-day trading on Monday . The company traded as low as $5.09 and last traded at $5.12. 702,430 shares traded hands during mid-day 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

Several research analysts have commented on the stock. ATB Cormark Capital Markets downgraded shares of 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 raised Kraken Robotics to a “hold” rating in a report on Friday, March 13th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Kraken Robotics Trading Down 7.8%

The firm’s 50-day moving average price is $5.60 and its 200-day moving average price is $5.66.

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