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

Key Points

• Kraken Robotics shares reached a new 52-week high of C$4.72, last trading at C$4.70 with a volume of 321,087 shares.
• Analysts have given favorable ratings, with a consensus rating of "Buy" and an average target price of C$4.10, while some firms have raised their targets up to C$5.00.
• The company, based in the marine technology sector, specializes in sonar and optical sensors for underwater vehicles used in military and commercial applications globally.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as C$4.72 and last traded at C$4.70, with a volume of 321087 shares. The stock had previously closed at C$4.61.

Wall Street Analysts Forecast Growth

PNG has been the subject of several recent research reports. Raymond James Financial lifted their target price on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Scotiabank upgraded shares of Kraken Robotics to a "strong-buy" rating in a report on Thursday, August 14th. Canaccord Genuity Group lowered shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and lifted their target price for the company from C$3.50 to C$4.00 in a report on Thursday, July 24th. National Bankshares lifted their target price on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Finally, Desjardins lifted their target price on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Two equities research 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of C$4.10.

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. The firm has a market cap of C$1.44 billion, a P/E ratio of 67.00 and a beta of 0.91. The business's 50-day simple moving average is C$3.74 and its 200 day simple moving average is C$3.01.

About Kraken Robotics

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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