Kraken Robotics (OTCMKTS:KRKNF) Trading Down 7.9% - Here's What Happened

Key Points

• Shares fell 7.9% midday to $5.50 (low $5.42) from a prior close of $5.97, with 681,139 shares traded—down about 57% from the average session volume of 1,583,230.
• Analysts are mixed with a MarketBeat consensus of "Hold" (3 Buys, 2 Holds, 1 Sell) after recent upgrades and downgrades from firms including Scotiabank, Desjardins, National Bank Financial and ATB Cormark.
• Kraken Robotics is a marine technology company that designs advanced underwater robotics and sensor systems—such as synthetic aperture sonar, AUVs and ROVs—for seabed mapping and subsea inspection.

Kraken Robotics Inc. (OTCMKTS:KRKNF - Get Free Report)'s share price traded down 7.9% during mid-day trading on Monday . The stock traded as low as $5.42 and last traded at $5.50. 681,139 shares traded hands during trading, a decline of 57% from the average session volume of 1,583,230 shares. The stock had previously closed at $5.97.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KRKNF shares. Scotiabank reissued an "outperform" rating on shares of Kraken Robotics in a research report on Wednesday, February 18th. Desjardins upgraded Kraken Robotics to a "moderate buy" rating in a research note 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. ATB Cormark Capital Markets lowered Kraken Robotics from a "hold" rating to a "strong sell" rating in a research note on Thursday, March 12th. Finally, Zacks Research raised Kraken Robotics to a "hold" rating in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold".

Kraken Robotics Trading Down 9.0%

The company's fifty day simple moving average is $6.25 and its two-hundred day simple moving average is $4.97.

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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