Kraken Robotics (OTCMKTS:KRKNF) Sets New 52-Week Low – Here’s What Happened

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $2.34 and last traded at $2.3465, with a volume of 402,277 shares trading hands. The stock had previously closed at $2.50.

Analysts Set New Price Targets

A number of analysts have recently commented on KRKNF shares. ATB Cormark Capital Markets upgraded Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Royal Bank Of Canada initiated coverage on Kraken Robotics in a research report on Tuesday, September 15th. They set a “moderate buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Kraken Robotics Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average is $3.06 and its 200 day moving average is $4.83.

Kraken Robotics (OTCMKTS:KRKNF) last posted its earnings results on Thursday, August 27th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Kraken Robotics had a negative net margin of 6.91% and a positive return on equity of 0.31%. The business had revenue of $19.23 million for the quarter, compared to analyst estimates of $18.52 million. Research analysts predict that Kraken Robotics Inc. will post 0.04 earnings per share for the current year.

About Kraken Robotics

Kraken Robotics is a Canadian marine technology company that develops products and services for underwater exploration and operations. Its offerings include synthetic aperture sonar systems for high-resolution seabed imaging, as well as subsea battery and power systems designed for use in demanding underwater environments. The company’s technologies support applications such as seabed mapping, mine and other underwater-object detection, and subsea inspection. Customers and users include organizations in the defense, offshore energy, and ocean science sectors.