Kraken Robotics (CVE:PNG) Stock Crosses Above 50 Day Moving Average – Should You Sell?

Kraken Robotics Inc. (CVE:PNG) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$6.49 and traded as high as C$6.80. Kraken Robotics shares last traded at C$6.35, with a volume of 767,607 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. National Bank Financial dropped their target price on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Scotia lifted their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research note on Friday, July 3rd. Desjardins decreased their price target on shares of Kraken Robotics to C$13.50 and set a “buy” rating for the company in a research note on Friday, July 3rd. Finally, ATB Cormark Capital Markets lowered their price target on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$9.35.

Kraken Robotics Trading Down 1.6%

The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23. The stock’s 50 day moving average price is C$6.47 and its 200-day moving average price is C$7.63. The stock has a market capitalization of C$1.92 billion, a P/E ratio of 744.00 and a beta of 0.91.

Insiders Place Their Bets

In related news, Director Donald Christopher Robertson purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average cost of C$6.05 per share, for a total transaction of C$60,500.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at C$60,500. The trade was a ∞ increase in their position. Also, insider Duane Joseph Alexander Mackay purchased 41,500 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was bought at an average price of C$6.00 per share, for a total transaction of C$249,000.00. Following the completion of the acquisition, the insider directly owned 1,154,500 shares in the company, valued at approximately C$6,927,000. This trade represents a 3.73% increase in their position. Insiders sold a total of 238,687 shares of company stock worth $1,485,800 over the last 90 days. Company insiders own 10.13% of the company’s stock.

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.