Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Time to Buy?

Kraken Robotics Inc. (OTCMKTS:KRKNF) shares gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Scotiabank raised shares of Kraken Robotics to a “strong-buy” rating in a research report on Tuesday, July 7th. ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Finally, Royal Bank Of Canada initiated coverage on Kraken Robotics in a research note on Tuesday, September 15th. They set a “moderate buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Kraken Robotics presently has a consensus rating of “Moderate Buy”.

Kraken Robotics Stock Performance

The company has a quick ratio of 1.22, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $3.76 and its two-hundred day simple moving average is $4.77.

Kraken Robotics (OTCMKTS:KRKNF) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $19.23 million during the quarter, compared to the consensus estimate of $18.52 million. Kraken Robotics had a negative net margin of 6.91% and a positive return on equity of 0.31%. Analysts anticipate that Kraken Robotics Inc. will post 0.05 earnings per share for the current year.

Kraken Robotics Company Profile

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.