Kraken Robotics (CVE:PNG) Trading 7.7% Higher – Should You Buy?

Kraken Robotics Inc. (CVE:PNG) shares rose 7.7% during trading on Monday . The stock traded as high as C$7.88 and last traded at C$7.85. Approximately 429,110 shares changed hands 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

Several research firms recently issued reports on PNG. National Bank Financial raised 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 research report on Friday, March 13th. Desjardins increased their price target on Kraken Robotics from C$9.50 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, ATB Cormark Capital Markets downgraded Kraken Robotics from a “hold” rating to a “strong sell” rating and increased their price target for the stock from C$5.50 to C$6.50 in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$8.75.

Kraken Robotics Price Performance

The company has a current ratio of 5.53, a quick ratio of 0.64 and a debt-to-equity ratio of 15.94. The stock has a market capitalization of C$2.43 billion, a price-to-earnings ratio of 790.00 and a beta of 0.78. The stock has a 50-day moving average price of C$8.21 and a 200 day moving average price of C$7.49.

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.