Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up – Here’s Why

Kraken Robotics Inc. (OTCMKTS:KRKNF) gapped up prior to trading on Tuesday . The stock had previously closed at $6.7410, but opened at $7.00. Kraken Robotics shares last traded at $6.4050, with a volume of 306,588 shares traded.

Analysts Set New Price Targets

Several research analysts have issued reports on KRKNF shares. Desjardins upgraded Kraken Robotics to a “moderate buy” rating in a research report on Thursday, March 12th. Zacks Research upgraded Kraken Robotics to a “hold” rating in a report on Friday, March 13th. ATB Cormark Capital Markets lowered Kraken Robotics from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 12th. Scotiabank restated an “outperform” rating on shares of Kraken Robotics in a report on Wednesday, February 18th. Finally, National Bank Financial downgraded Kraken Robotics from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Kraken Robotics Stock Performance

The company’s 50 day moving average price is $6.25 and its two-hundred day moving average price is $4.90.

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).