Kraken Robotics (OTCMKTS:KRKNF) Stock Price Down 4.9% – What’s Next?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price dropped 4.9% on Friday. The stock traded as low as $2.85 and last traded at $2.8620. 593,475 shares traded hands during trading, a decline of 51% from the average daily volume of 1,217,263 shares. The stock had previously closed at $3.0094.

Wall Street Analysts Forecast Growth

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

Kraken Robotics Trading Down 2.5%

The company has a quick ratio of 1.22, a current ratio of 1.33 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $3.86 and a 200 day moving average price of $4.90.

Kraken Robotics (OTCMKTS:KRKNF) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $19.23 million during 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, research analysts predict that Kraken Robotics Inc. will post 0.05 EPS for the current fiscal year.

About Kraken Robotics

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.