Kraken Robotics (CVE:PNG) Hits New 1-Year High - Should You Buy?

Key Points

• Kraken Robotics Inc. shares reached a new 52-week high at C$4.39, with a trading volume of 320,160 shares on the day.
• Desjardins and National Bankshares have upgraded their target prices for Kraken Robotics to C$5.00, both giving the stock a "buy" or "outperform" rating.
• The stock has a market cap of C$1.41 billion and has seen a notable increase of 8.3% recently, with an average rating of "Buy" from analysts.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$4.39 and last traded at C$4.38, with a volume of 320160 shares trading hands. The stock had previously closed at C$4.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PNG shares. Desjardins boosted their target price on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" 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 lifted 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. Raymond James Financial lifted 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 report on Friday, August 22nd. Finally, 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 report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Stock Up 8.3%

The business's 50 day moving average price is C$3.62 and its 200 day moving average price is C$2.91. The firm has a market cap of C$1.41 billion, a price-to-earnings ratio of 65.57 and a beta of 0.91. The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78.

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.

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