Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Here’s What Happened

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.29, but opened at $3.40. Kraken Robotics shares last traded at $3.2240, with a volume of 90,243 shares.

Analyst Ratings Changes

KRKNF has been the subject of several recent analyst reports. Scotiabank raised Kraken Robotics to a “strong-buy” rating in a report on Tuesday, July 7th. ATB Cormark Capital Markets upgraded Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Finally, Royal Bank Of Canada initiated coverage on Kraken Robotics in a report on Tuesday, September 15th. They set a “moderate buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Kraken Robotics currently has a consensus rating of “Moderate Buy”.

Kraken Robotics Stock 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 50-day simple moving average is $3.99 and its 200 day simple moving average is $5.06.

Kraken Robotics (OTCMKTS:KRKNF) last released its earnings results on Thursday, August 27th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Kraken Robotics had a negative net margin of 6.91% and a positive return on equity of 0.31%. The firm had revenue of $19.23 million during the quarter, compared to the consensus estimate of $18.52 million. Research analysts predict that Kraken Robotics Inc. will post 0.05 earnings per share 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.