Kraken Robotics (OTCMKTS:KRKNF) Trading Down 3.8% – Here’s What Happened

Kraken Robotics Inc. (OTCMKTS:KRKNF) traded down 3.8% during mid-day trading on Tuesday . The company traded as low as $6.1657 and last traded at $6.2120. 621,832 shares were traded during trading, a decline of 59% from the average session volume of 1,507,626 shares. The stock had previously closed at $6.46.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. National Bank Financial cut shares of Kraken Robotics from an “outperform” rating to a “sector perform” rating in a report on Wednesday, January 14th. Zacks Research upgraded shares of Kraken Robotics to a “hold” rating in a report on Friday, March 13th. Scotiabank reiterated an “outperform” rating on shares of Kraken Robotics in a report on Wednesday, February 18th. 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. Finally, Desjardins upgraded shares of Kraken Robotics to a “moderate buy” rating in a report on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Kraken Robotics Price Performance

The firm’s 50-day moving average price is $6.27 and its 200-day moving average price is $5.22.

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).