Kraken Robotics (OTCMKTS:KRKNF) Shares Down 6.3% – Here’s What Happened

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) dropped 6.3% during mid-day trading on Thursday . The stock traded as low as $3.91 and last traded at $3.9250. 1,760,143 shares were traded during mid-day trading, an increase of 38% from the average session volume of 1,277,176 shares. The stock had previously closed at $4.19.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Scotiabank raised Kraken Robotics to a “strong-buy” rating in a report on Tuesday, July 7th. ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Kraken Robotics Trading Down 1.8%

The stock has a market cap of $1.43 billion and a PE ratio of -385.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.27 and a current ratio of 1.37. The company has a 50 day moving average of $4.40 and a two-hundred day moving average of $5.40.

Kraken Robotics (OTCMKTS:KRKNF) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Kraken Robotics had a positive return on equity of 0.31% and a negative net margin of 6.91%.The company had revenue of $19.23 million for the quarter, compared to the consensus estimate of $18.52 million. Sell-side analysts anticipate that Kraken Robotics Inc. will post 0.05 earnings per share for the current fiscal year.

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).