Kraken Robotics (OTCMKTS:KRKNF) Trading Down 5.7% – What’s Next?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price dropped 5.7% during mid-day trading on Friday . The company traded as low as $3.31 and last traded at $3.32. Approximately 368,170 shares were traded during trading, a decline of 71% from the average daily volume of 1,253,244 shares. The stock had previously closed at $3.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KRKNF shares. Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research report on Tuesday, July 7th. ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Kraken Robotics Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.37 and a quick ratio of 1.27. The firm’s fifty day moving average price is $4.20 and its 200-day moving average price is $5.25.

Kraken Robotics (OTCMKTS:KRKNF) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $19.23 million during 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%. Equities analysts expect that Kraken Robotics Inc. will post 0.05 EPS for the current fiscal 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.