Kraken Robotics (CVE:PNG) Trading Up 15.3% – Time to Buy?

Kraken Robotics Inc. (CVE:PNG) shares were up 15.3% during trading on Wednesday . The stock traded as high as C$7.29 and last traded at C$6.95. Approximately 5,771,133 shares were traded during mid-day trading, an increase of 404% from the average daily volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PNG shares. National Bankshares increased their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Desjardins increased their price target on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Canaccord Genuity Group lowered shares of Kraken Robotics from a “strong-buy” rating to a “hold” rating and lifted their price target for the company from C$3.50 to C$4.00 in a report on Thursday, July 24th. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Raymond James Financial increased their target price on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an “outperform” rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Kraken Robotics currently has a consensus rating of “Buy” and an average target price of C$4.10.

Kraken Robotics Trading Up 15.3%

The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The business’s 50-day simple moving average is C$4.45 and its two-hundred day simple moving average is C$3.38. The stock has a market capitalization of C$2.13 billion, a price-to-earnings ratio of 99.29 and a beta of 1.23.

Kraken Robotics Company Profile

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally.