Kraken Robotics (CVE:PNG) Reaches New 12-Month Low – Should You Sell?

Kraken Robotics Inc. (CVE:PNG)’s stock price reached a new 52-week low during trading on Thursday. The stock traded as low as C$3.41 and last traded at C$3.42, with a volume of 838,861 shares traded. The stock had previously closed at C$3.56.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Desjardins cut their target price on shares of Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating on the stock in a research note on Friday, August 28th. Raymond James Financial decreased their price target on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price objective on shares of Kraken Robotics and gave the stock a “moderate buy” rating in a report on Tuesday, September 15th. ATB Cormark Capital Markets raised Kraken Robotics from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Finally, National Bank Financial reduced their target price on Kraken Robotics from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$8.67.

Kraken Robotics Stock Down 4.2%

The company has a current ratio of 1.33, a quick ratio of 0.64 and a debt-to-equity ratio of 16.99. The firm has a market cap of C$1.27 billion, a P/E ratio of -170.50 and a beta of 1.03. The company’s 50 day simple moving average is C$4.50 and its 200-day simple moving average is C$6.79.

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.