Kraken Robotics (OTCMKTS:KRKNF) Stock Falls 4.9% – Time to Sell?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s stock price dropped 4.9% on Friday. The company traded as low as $2.85 and last traded at $2.8620. Approximately 593,475 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,217,263 shares. The stock had previously closed at $3.0094.

Analyst Upgrades and Downgrades

KRKNF has been the subject of a number of analyst reports. Royal Bank Of Canada started coverage on shares of Kraken Robotics in a research report on Tuesday, September 15th. They set a “moderate buy” rating for the company. Scotiabank raised shares of Kraken Robotics to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, ATB Cormark Capital Markets raised Kraken Robotics from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Kraken Robotics Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $3.86 and its 200-day moving average price is $4.90.

Kraken Robotics (OTCMKTS:KRKNF) last released its earnings results on Thursday, August 27th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company 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%. On average, analysts anticipate that Kraken Robotics Inc. will post 0.05 earnings per share for the current fiscal year.

About Kraken Robotics

Kraken Robotics Inc is a Canadian marine technology company that develops advanced sensors, autonomous underwater systems and subsea power solutions. Founded in 2012, the company focuses on technologies that enable high-resolution imaging, data collection and autonomous operations in challenging underwater environments.

Its product portfolio includes synthetic aperture sonar systems, such as the AquaPix family, which are designed to produce detailed seabed imagery; underwater laser imaging and 3D measurement systems; autonomous underwater vehicles; and pressure-tolerant batteries and energy-storage systems for subsea applications.