Kraken Robotics (CVE:PNG) Shares Up 15.3% – Still a Buy?

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNG. Desjardins upped their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Scotiabank raised shares of Kraken Robotics to a “strong-buy” rating in a report on Thursday, August 14th. Canaccord Genuity Group cut shares of Kraken Robotics from a “strong-buy” rating to a “hold” rating and upped their target price for the company from C$3.50 to C$4.00 in a report on Thursday, July 24th. National Bankshares upped their target price on shares of Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a report on Thursday. Finally, Raymond James Financial increased their price target on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the stock an “outperform” rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$4.60.

Kraken Robotics Stock Down 5.3%

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 firm’s 50-day simple moving average is C$4.58 and its two-hundred day simple moving average is C$3.44. The company has a market capitalization of C$2.12 billion, a price-to-earnings ratio of 98.71 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.