Kraken Robotics (OTCMKTS:KRKNF) Reaches New 1-Year Low – Here’s What Happened

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s stock price reached a new 52-week low during trading on Tuesday. The stock traded as low as $2.34 and last traded at $2.3465, with a volume of 402,277 shares traded. The stock had previously closed at $2.50.

Analysts Set New Price Targets

A number of research firms have weighed in on KRKNF. ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Royal Bank Of Canada assumed coverage on shares of Kraken Robotics in a report on Tuesday, September 15th. They set a “moderate buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Kraken Robotics Stock Down 6.0%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 1.33. The stock has a 50-day moving average price of $3.11 and a 200-day moving average price of $4.86.

Kraken Robotics (OTCMKTS:KRKNF) last announced its earnings results on Thursday, August 27th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $19.23 million for 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 anticipate that Kraken Robotics Inc. will post 0.04 EPS for the current fiscal year.

Kraken Robotics Company Profile

Kraken Robotics is a Canadian marine technology company that develops products and services for underwater exploration and operations. Its offerings include synthetic aperture sonar systems for high-resolution seabed imaging, as well as subsea battery and power systems designed for use in demanding underwater environments. The company’s technologies support applications such as seabed mapping, mine and other underwater-object detection, and subsea inspection. Customers and users include organizations in the defense, offshore energy, and ocean science sectors.