Kraken Robotics Inc. (OTCMKTS:KRKNF) Short Interest Up 57.3% in March

Key Points

• Short interest up 57.3% — short interest rose to 3,846,896 shares as of March 13 (from 2,445,446 on Feb 26), with a days-to-cover of 0.9 and about 1.3% of shares sold short.
• Shares traded at $5.97 on Friday (up $0.04) with volume of 1,294,983 versus an average of 1,608,991; the 50‑day and 200‑day moving averages are $6.25 and $4.94 respectively, and the 1‑year range is $1.40–$8.13.
• Analyst views are mixed — three Buys, two Holds and one Sell, leaving a MarketBeat consensus rating of "Hold".

Kraken Robotics Inc. (OTCMKTS:KRKNF - Get Free Report) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 3,846,896 shares, a growth of 57.3% from the February 26th total of 2,445,446 shares. Based on an average daily trading volume, of 4,090,973 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.3% of the company's shares are sold short.

Kraken Robotics Price Performance

Shares of KRKNF traded up $0.04 during trading hours on Friday, reaching $5.97. The company's stock had a trading volume of 1,294,983 shares, compared to its average volume of 1,608,991. The company has a 50 day moving average of $6.25 and a two-hundred day moving average of $4.94. Kraken Robotics has a 1-year low of $1.40 and a 1-year high of $8.13.

Analysts Set New Price Targets

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

About Kraken Robotics

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).

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