The receipt of new orders is generally seen as a highly positive thing by investors, and if you are currently looking into such companies, you may consider taking a closer look into Kraken Robotics Inc. (OTC: KRKNF). As it happens, the company was in focus yesterday after it made an announcement about substantial battery orders.
$34 Million Worth of Orders
In the news release from the company yesterday, it was announced that it had received orders with an aggregate value of $34 million for its pressure-tolerant SeaPower batteries from a trio of clients. However, that was not all. The company also announced that it had set up a new battery production facility based out of Nova Scotia. The production facility will help Kraken Robotics meet the rising demand from the defense industry for UUVs (uncrewed underwater vehicles).
Further Information
Kraken Robotics revealed that one of the orders out of the three was valued at as much as $31 million and constituted the largest order ever received by the company. The client in question is involved in supplying the defense industry with UUVs. It may be a good time to add the Kraken Robotics stock to your watch lists.
Key Quote
“We have new battery form factors that will be released in late 2025 that are generating strong interest across several vehicle manufacturers,” said Mr. Reid. “This will allow us to address a segment of the market that we have not previously had solutions for—small and medium-sized UUVs. Once completed, our new facility will allow us to triple our current battery production capacity.”
Fundamentals
| P/E Ratio | 50.97 |
| PEG Ratio | 0.1 |
| Price to Book | 8.34 |
| Price to Cash Flow | – |
| Price to Free Cash Flow | – |
| Total Sales (TTM) | 67.01 M |
| Revenue per Share (TTM) | 0.29 |
| Shares Outstanding | 262.778 M |
| Share Float (%) | 252.02 M (95.91%) |
| % Held by Institutions | 17.87 |
