Kraken Robotics (OTCMKTS:KRKNF) Stock Price Up 9.4% - Should You Buy?

Key Points

• Shares jumped 9.4% Monday to trade as high as $6.50 (last $6.50) on about 905,601 shares, roughly 40% below the stock's average daily volume; the prior close was $5.94.
• Analyst sentiment is mixed — three Buy, two Hold and one Sell — giving an average rating of "Hold", with recent notable moves including an ATB Cormark downgrade to "strong sell" and a Desjardins upgrade to "moderate buy".
• Kraken Robotics is a Canadian marine-technology firm that designs underwater robotic platforms and sensor systems (synthetic aperture sonar, AUVs/ROVs); its 50-day moving average is $6.24 and 200-day moving average is $5.17.

Kraken Robotics Inc. (OTCMKTS:KRKNF - Get Free Report) shares rose 9.4% during trading on Monday . The stock traded as high as $6.50 and last traded at $6.50. Approximately 905,601 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,515,964 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

KRKNF has been the topic of several analyst reports. ATB Cormark Capital Markets downgraded Kraken Robotics from a "hold" rating to a "strong sell" rating in a report on Thursday, March 12th. National Bank Financial downgraded Kraken Robotics from an "outperform" rating to a "sector perform" rating in a report on Wednesday, January 14th. Desjardins upgraded Kraken Robotics to a "moderate buy" rating in a report on Thursday, March 12th. Scotiabank reiterated an "outperform" rating on shares of Kraken Robotics in a report on Wednesday, February 18th. Finally, Zacks Research upgraded Kraken Robotics to a "hold" rating in a report on Friday, March 13th. Three 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold".

Kraken Robotics Trading Up 8.9%

The business has a fifty day moving average of $6.24 and a 200-day moving average of $5.17.

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).

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