Kraken Robotics (CVE:PNG) Stock Price Up 7.7% – Time to Buy?

Kraken Robotics Inc. (CVE:PNG – Get Free Report)’s stock price rose 7.7% during mid-day trading on Monday . The stock traded as high as C$7.88 and last traded at C$7.85. Approximately 429,110 shares were traded during trading, a decline of 76% from the average daily volume of 1,787,228 shares. The stock had previously closed at C$7.29.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PNG. Desjardins upped their target price 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. National Bank Financial upgraded Kraken Robotics from a “hold” rating to an “outperform” rating and upped their target price for the company from C$8.75 to C$13.00 in a report on Friday, March 13th. Finally, ATB Cormark Capital Markets downgraded Kraken Robotics from a “hold” rating to a “strong sell” rating and upped their target price for the company from C$5.50 to C$6.50 in a report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

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Kraken Robotics Price Performance

The company has a quick ratio of 0.64, a current ratio of 5.53 and a debt-to-equity ratio of 15.94. 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 stock’s 50 day moving average price is C$8.15 and its two-hundred day moving average price is C$7.52.

Kraken Robotics Company Profile

(Get Free Report)

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.

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