Kraken Robotics (OTCMKTS:KRKNF) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up premarket from $5.79 to $6.275 and last traded around $6.07 on volume of 106,257 shares (about a 3.7% intraday rise); the 50-day and 200-day moving averages are $6.25 and $5.00, respectively.
• Analyst coverage is mixed and the stock has a consensus rating of "Hold" (3 Buys, 2 Holds, 1 Sell), reflecting recent upgrades and downgrades by firms including Zacks, Scotiabank, Desjardins, National Bank Financial and ATB Cormark.
• Kraken Robotics is a marine technology company that designs and manufactures advanced underwater robotic platforms and sensor systems, including synthetic aperture sonar, AUVs and ROVs.

Kraken Robotics Inc. (OTCMKTS:KRKNF - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $5.79, but opened at $6.2750. Kraken Robotics shares last traded at $6.0735, with a volume of 106,257 shares.

Wall Street Analysts Forecast Growth

KRKNF has been the topic of several research analyst reports. Zacks Research upgraded shares of Kraken Robotics to a "hold" rating in a research report on Friday, March 13th. National Bank Financial lowered Kraken Robotics from an "outperform" rating to a "sector perform" rating in a report on Wednesday, January 14th. ATB Cormark Capital Markets cut Kraken Robotics from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 12th. Scotiabank reiterated an "outperform" rating on shares of Kraken Robotics in a report on Wednesday, February 18th. Finally, Desjardins raised Kraken Robotics to a "moderate buy" rating in a research report on Thursday, March 12th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Kraken Robotics currently has a consensus rating of "Hold".

Kraken Robotics Trading Up 3.7%

The stock's 50-day moving average is $6.25 and its 200 day moving average is $5.00.

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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