Kraken Robotics (CVE:PNG) Sets New 52-Week Low – Should You Sell?

Kraken Robotics Inc. (CVE:PNG) hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$6.35 and last traded at C$6.34, with a volume of 1282270 shares changing hands. The stock had previously closed at C$6.54.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNG. Desjardins increased their target price on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. ATB Cormark Capital Markets lowered shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and boosted their price target for the company from C$5.50 to C$6.50 in a research report on Friday, March 13th. Finally, National Bank Financial raised shares of Kraken Robotics from a “hold” rating to an “outperform” rating and upped their price objective for the stock from C$8.75 to C$13.00 in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$8.75.

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 16.23, a quick ratio of 0.64 and a current ratio of 1.37. The stock has a market cap of C$1.95 billion, a P/E ratio of 744.00 and a beta of 0.71. The company has a 50-day simple moving average of C$7.47 and a 200-day simple moving average of C$7.82.

About Kraken Robotics

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.