Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Still a Buy?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.7410, but opened at $7.00. Kraken Robotics shares last traded at $6.4050, with a volume of 306,588 shares.

Wall Street Analyst Weigh In

KRKNF has been the subject of a number of analyst reports. National Bank Financial downgraded Kraken Robotics from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, January 14th. Zacks Research upgraded shares of Kraken Robotics to a “hold” rating in a report on Friday, March 13th. 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. Scotiabank restated an “outperform” rating on shares of Kraken Robotics in a research note on Wednesday, February 18th. Finally, Desjardins upgraded shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, March 12th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Kraken Robotics has a consensus rating of “Hold”.

Kraken Robotics Stock Performance

The business’s 50 day moving average price is $6.22 and its 200-day moving average price is $4.86.

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).