Kraken Robotics (OTCMKTS:KRKNF) Trading Up 7.7% – Still a Buy?

Kraken Robotics Inc. (OTCMKTS:KRKNF)’s share price shot up 7.7% during trading on Wednesday . The company traded as high as $6.01 and last traded at $5.99. 994,840 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,733,742 shares. The stock had previously closed at $5.56.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KRKNF. Scotiabank restated an “outperform” rating on shares of Kraken Robotics in a report on Wednesday. National Bank Financial lowered Kraken Robotics from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Kraken Robotics Stock Performance

The business’s 50 day simple moving average is $5.36 and its 200-day simple moving average is $4.19.

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).