Kraken Robotics (CVE:PNG) Stock Price Down 4.5% – Should You Sell?

Kraken Robotics Inc. (CVE:PNG) traded down 4.5% during trading on Friday . The stock traded as low as C$7.37 and last traded at C$7.45. 442,970 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,766,482 shares. The stock had previously closed at C$7.80.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. ATB Cormark Capital Markets downgraded Kraken Robotics from a “hold” rating to a “strong sell” rating and increased their price objective for the company from C$5.50 to C$6.50 in a research note on Friday, March 13th. National Bank Financial raised Kraken Robotics from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$8.75 to C$13.00 in a research note on Friday, March 13th. Finally, Desjardins increased their price objective on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Stock Down 4.5%

The firm has a market capitalization of C$2.29 billion, a price-to-earnings ratio of 745.00 and a beta of 0.78. The business has a 50 day simple moving average of C$8.08 and a 200-day simple moving average of C$7.56. The company has a debt-to-equity ratio of 15.94, a quick ratio of 0.64 and a current ratio of 5.53.

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.