Kraken Robotics (OTCMKTS:KRKNF) Trading Down 7.9% – What’s Next?

Kraken Robotics Inc. (OTCMKTS:KRKNF) shares were down 7.9% during trading on Monday . The stock traded as low as $5.42 and last traded at $5.50. Approximately 681,139 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 1,583,230 shares. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KRKNF shares. National Bank Financial lowered Kraken Robotics from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 14th. Scotiabank reissued an “outperform” rating on shares of Kraken Robotics in a report on Wednesday, February 18th. Desjardins upgraded shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. ATB Cormark Capital Markets lowered shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Finally, Zacks Research upgraded shares of Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Kraken Robotics Stock Performance

The stock has a 50 day moving average of $6.25 and a 200 day moving average of $4.97.

About Kraken Robotics

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).