Why did Kongsberg Maritime stock fall on 7 October?
Written after the close on
Kongsberg Maritime −2.67%
Kongsberg Maritime fell sharply as a broker trimmed its target. Over the last five trading days Kongsberg Maritime was roughly unchanged, holding up better than a clearly weaker Oslo Børs benchmark. Earlier, Kongsberg Maritime completed its acquisition of Berg Propulsion, a maker of ship propulsion systems, and won work to supply subsea docking technology for autonomous underwater vehicles used by research vessels. Watch whether that propulsion business and those subsea contracts start showing up in orders and revenue.
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