Kraken Robotics (CVE:PNG) Reaches New 12-Month High Following Analyst Upgrade

Kraken Robotics Inc. (CVE:PNG)’s share price reached a new 52-week high on Wednesday after Desjardins raised their price target on the stock from C$6.50 to C$9.50. Desjardins currently has a buy rating on the stock. Kraken Robotics traded as high as C$8.93 and last traded at C$8.70, with a volume of 3144009 shares traded. The stock had previously closed at C$8.43.

Several other research analysts have also recently weighed in on the company. National Bankshares cut Kraken Robotics from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from C$7.50 to C$8.75 in a research note on Wednesday. Raymond James Financial boosted their target price on Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Finally, Cormark cut shares of Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Kraken Robotics presently has an average rating of “Moderate Buy” and a consensus price target of C$7.13.

Kraken Robotics Trading Up 1.3%

The firm has a market capitalization of C$2.46 billion, a P/E ratio of 114.86 and a beta of 0.95. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The stock has a 50 day simple moving average of C$6.23 and a 200-day simple moving average of C$5.01.

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. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.