Kraken Robotics (OTCMKTS:KRKNF) Stock Price Down 7.8% – Should You Sell?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price fell 7.8% during mid-day trading on Wednesday . The stock traded as low as $4.36 and last traded at $4.37. Approximately 482,980 shares changed hands during trading, a decline of 65% from the average daily volume of 1,389,412 shares. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised shares of Kraken Robotics to a “strong-buy” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Kraken Robotics Trading Down 5.2%

The firm has a market cap of $1.55 billion and a P/E ratio of -418.00. The business has a 50-day moving average of $5.09 and a two-hundred day moving average of $5.69.

Kraken Robotics (OTCMKTS:KRKNF) last posted its earnings results on Thursday, May 28th. The company reported ($0.01) EPS for the quarter. The business had revenue of $15.60 million during the quarter, compared to analysts’ expectations 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).