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

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) gapped up before the market opened on Wednesday. The stock had previously closed at $3.37, but opened at $3.51. Kraken Robotics shares last traded at $3.26, with a volume of 268,991 shares traded.

Analysts Set New Price Targets

KRKNF has been the subject of several research analyst reports. ATB Cormark Capital Markets raised Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. 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. Finally, Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research report on Tuesday, July 7th. One 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 stock. Based on data from MarketBeat, Kraken Robotics currently has an average rating of “Moderate Buy”.

Kraken Robotics Stock Up 0.7%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.33. The business’s 50-day moving average is $3.79 and its two-hundred day moving average is $4.81.

Kraken Robotics (OTCMKTS:KRKNF) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $18.52 million. On average, equities analysts expect 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.