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

Kraken Robotics Inc. (OTCMKTS:KRKNF) gapped up prior to trading on Thursday . The stock had previously closed at $5.0750, but opened at $5.44. Kraken Robotics shares last traded at $5.3480, with a volume of 33,191 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. Scotiabank reaffirmed an “outperform” rating on shares of Kraken Robotics in a research note on Wednesday, February 18th. 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 raised Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Kraken Robotics Price Performance

The company’s fifty day simple moving average is $5.63 and its 200 day simple moving average is $5.64.

Kraken Robotics (OTCMKTS:KRKNF) last announced its quarterly earnings results on Thursday, May 28th. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $18.30 million.

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).