Kraken Robotics Inc. (OTCMKTS:KRKNF) Short Interest Up 57.3% in March

Kraken Robotics Inc. (OTCMKTS:KRKNF) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 3,846,896 shares, a growth of 57.3% from the February 26th total of 2,445,446 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 4,090,973 shares, the short-interest ratio is currently 0.9 days.

Analysts Set New Price Targets

KRKNF has been the subject of several recent research reports. Desjardins upgraded Kraken Robotics to a “moderate buy” rating in a report on Thursday, March 12th. Zacks Research raised Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Scotiabank reissued an “outperform” rating on shares of Kraken Robotics in a research report on Wednesday, February 18th. ATB Cormark Capital Markets lowered shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Finally, National Bank Financial downgraded shares of Kraken Robotics from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 14th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Kraken Robotics Stock Performance

Shares of KRKNF traded up $0.04 during trading hours on Friday, hitting $5.97. 1,294,983 shares of the company were exchanged, compared to its average volume of 1,608,991. The firm’s 50 day moving average is $6.25 and its 200-day moving average is $4.94. Kraken Robotics has a 52 week low of $1.40 and a 52 week high of $8.13.

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).