Kraken Robotics (OTCMKTS:KRKNF) Stock Price Up 11.7% – Still a Buy?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price rose 11.7% during mid-day trading on Tuesday . The company traded as high as $5.9760 and last traded at $5.93. Approximately 973,786 shares traded hands during trading, a decline of 32% from the average daily volume of 1,441,163 shares. The stock had previously closed at $5.3065.

Wall Street Analyst Weigh In

KRKNF has been the topic of a number of recent research reports. Zacks Research raised shares of Kraken Robotics to a “hold” rating in a research note on Friday, March 13th. Desjardins raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, March 12th. Scotiabank reaffirmed an “outperform” rating on shares of Kraken Robotics in a research note on Wednesday, February 18th. Finally, ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Kraken Robotics Stock Up 10.8%

The company’s 50 day moving average price is $5.95 and its two-hundred day moving average price is $5.46.

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).