Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Should You Buy?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $3.37, but opened at $3.51. Kraken Robotics shares last traded at $3.26, with a volume of 268,991 shares changing hands.

Wall Street Analysts Forecast Growth

KRKNF has been the topic of several analyst reports. ATB Cormark Capital Markets raised Kraken Robotics from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Royal Bank Of Canada started coverage on shares of Kraken Robotics in a report on Tuesday, September 15th. They set a “moderate buy” rating for the company. Finally, Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Kraken Robotics Price Performance

The company has a 50-day moving average price of $3.79 and a 200-day moving average price of $4.81. The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11.

Kraken Robotics (OTCMKTS:KRKNF) last posted its earnings results on Thursday, August 27th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $19.23 million for the quarter, compared to analysts’ expectations of $18.52 million. Kraken Robotics had a positive return on equity of 0.31% and a negative net margin of 6.91%. On average, analysts predict that Kraken Robotics Inc. will post 0.05 earnings per share for the current year.

Kraken Robotics Company Profile

Kraken Robotics Inc is a Canadian marine technology company that develops advanced sensors, autonomous underwater systems and subsea power solutions. Founded in 2012, the company focuses on technologies that enable high-resolution imaging, data collection and autonomous operations in challenging underwater environments.

Its product portfolio includes synthetic aperture sonar systems, such as the AquaPix family, which are designed to produce detailed seabed imagery; underwater laser imaging and 3D measurement systems; autonomous underwater vehicles; and pressure-tolerant batteries and energy-storage systems for subsea applications.