Kraken Robotics (CVE:PNG) Reaches New 52-Week High – Should You Buy?

Kraken Robotics Inc. (CVE:PNG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$8.01 and last traded at C$8.17, with a volume of 923649 shares changing hands. The stock had previously closed at C$7.90.

Analyst Upgrades and Downgrades

PNG has been the subject of a number of analyst reports. ATB Cormark Capital Markets downgraded 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 report on Friday, March 13th. Desjardins boosted their price target on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a report on Friday, March 13th. Finally, National Bank Financial raised Kraken Robotics from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$8.75 to C$13.00 in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$8.75.

Kraken Robotics Trading Up 2.3%

The company has a debt-to-equity ratio of 15.94, a quick ratio of 0.64 and a current ratio of 5.53. The firm has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 808.00 and a beta of 0.78. The company has a 50 day moving average price of C$8.18 and a two-hundred day moving average price of C$7.50.

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.