Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Down – Should You Sell?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $5.1155, but opened at $4.89. Kraken Robotics shares last traded at $4.9465, with a volume of 115,554 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KRKNF shares. ATB Cormark Capital Markets lowered shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 12th. Zacks Research raised shares of Kraken Robotics to a “hold” rating in a research report on Friday, March 13th. Scotiabank reissued an “outperform” rating on shares of Kraken Robotics in a research report on Wednesday, February 18th. Finally, Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Kraken Robotics Price Performance

The stock’s 50-day moving average price is $5.69 and its 200 day moving average price is $5.62.

Kraken Robotics (OTCMKTS:KRKNF) last released its quarterly earnings results on Thursday, May 28th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $15.60 million for the quarter, compared to the consensus estimate 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).