Kraken Robotics (OTCMKTS:KRKNF) Trading Down 7.7% – Should You Sell?

Kraken Robotics Inc. (OTCMKTS:KRKNF) shares dropped 7.7% during mid-day trading on Monday . The company traded as low as $5.09 and last traded at $5.12. 702,430 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,423,673 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

KRKNF has been the subject of a number of recent analyst reports. Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, March 12th. Zacks Research upgraded shares of Kraken Robotics to a “hold” rating in a report on Friday, March 13th. Finally, ATB Cormark Capital Markets cut shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a report on Thursday, March 12th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Kraken Robotics Stock Performance

The company’s 50 day moving average price is $5.60 and its two-hundred day moving average price is $5.66.

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