Kraken Robotics (OTCMKTS:KRKNF) Hits New 12-Month Low – Here’s Why

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price reached a new 52-week low during mid-day trading on Monday. The company traded as low as $3.04 and last traded at $3.07, with a volume of 554535 shares changing hands. The stock had previously closed at $3.23.

Analyst Upgrades and Downgrades

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

Kraken Robotics Stock Down 6.0%

The firm’s 50 day simple moving average is $3.96 and its 200-day simple moving average is $5.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.33.

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

Kraken Robotics Company Profile

Kraken Robotics Inc is a Canadian marine technology company that develops advanced sensors, autonomous underwater vehicles and subsea equipment. Its technologies are designed for underwater imaging, mapping, surveillance and data collection in challenging marine environments.

The company’s product portfolio includes synthetic aperture sonar systems, three-dimensional acoustic imaging technology, autonomous underwater vehicles and underwater battery systems. Kraken’s solutions are used in applications such as seabed mapping, mine countermeasures, offshore energy, defense, marine research and infrastructure inspection.

Founded in 2012 and headquartered in St.