Kraken Robotics (CVE:PNG) Stock Price Up 15.3% – Time to Buy?

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

Analyst Upgrades and Downgrades

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

Kraken Robotics Trading Up 15.3%

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 business’s 50-day moving average is C$4.45 and its two-hundred day moving average is C$3.38. The firm has a market cap of C$2.13 billion, a P/E ratio of 99.29 and a beta of 1.23.

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.