Kraken Robotics (OTCMKTS:KRKNF) Shares Down 6.9% – Here’s What Happened

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) dropped 6.9% during trading on Thursday . The company traded as low as $5.50 and last traded at $5.54. Approximately 515,077 shares changed hands during trading, a decline of 64% from the average daily volume of 1,436,259 shares. The stock had previously closed at $5.95.

Wall Street Analysts Forecast Growth

KRKNF has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Kraken Robotics in a research note on Wednesday, February 18th. Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, March 12th. ATB Cormark Capital Markets cut shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Finally, Zacks Research raised shares of Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Kraken Robotics Price Performance

The firm’s fifty day moving average price is $5.91 and its 200 day moving average price is $5.49.

Kraken Robotics (OTCMKTS:KRKNF) last posted its quarterly earnings results on Thursday, May 28th. The company reported $999.00 EPS for the quarter.

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).