Kraken Robotics (OTCMKTS:KRKNF) Shares Up 7.4% – Here’s What Happened

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) traded up 7.4% during trading on Friday . The company traded as high as $4.75 and last traded at $4.7463. Approximately 908,235 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 1,395,056 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

KRKNF has been the topic of a number of research analyst reports. Desjardins upgraded shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. 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. Zacks Research raised Kraken Robotics to a “hold” rating in a report on Friday, March 13th. Finally, Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kraken Robotics presently has an average rating of “Moderate Buy”.

Kraken Robotics Stock Performance

The company has a market capitalization of $1.76 billion and a P/E ratio of -475.20. The stock has a fifty day moving average of $5.18 and a 200 day moving average of $5.69.

Kraken Robotics (OTCMKTS:KRKNF) last issued its quarterly 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 analyst estimates of $18.30 million.

Kraken Robotics Company Profile

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).