Kraken Robotics (CVE:PNG) Shares Up 15.3% – Still a Buy?

Shares of Kraken Robotics Inc. (CVE:PNG) shot up 15.3% on Wednesday . The company traded as high as C$7.29 and last traded at C$6.95. 5,771,133 shares traded hands during trading, an increase of 404% from the average session volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Wall Street Analyst Weigh In

PNG has been the subject of several recent research reports. Raymond James Financial upped their price target on Kraken Robotics from C$3.50 to C$4.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research report on Thursday, August 14th. National Bankshares upped their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. Desjardins lifted their price target on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Finally, Canaccord Genuity Group lowered shares of Kraken Robotics from a “strong-buy” rating to a “hold” rating and boosted their price target for the company from C$3.50 to C$4.00 in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$4.10.

Kraken Robotics Stock Performance

The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The stock has a fifty day moving average price of C$4.45 and a 200-day moving average price of C$3.38. The firm has a market capitalization of C$2.13 billion, a price-to-earnings ratio of 99.29 and a beta of 1.23.

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.