Kraken Robotics (CVE:PNG) Hits New 12-Month High – Still a Buy?

Shares of Kraken Robotics Inc. (CVE:PNG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$7.63 and last traded at C$7.48, with a volume of 591454 shares traded. The stock had previously closed at C$7.36.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PNG shares. Raymond James Financial raised their price target on Kraken Robotics from C$4.00 to C$6.25 and gave the company an “outperform” rating in a report on Tuesday, November 25th. National Bankshares raised their target price on shares of Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Desjardins boosted their price target on shares of Kraken Robotics from C$5.00 to C$6.50 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Finally, Cormark downgraded shares of Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$6.06.

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The business has a 50-day moving average of C$5.96 and a 200-day moving average of C$4.80. The company has a market capitalization of C$2.29 billion, a P/E ratio of 106.86 and a beta of 0.95.

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.