Kraken Robotics (CVE:PNG) Hits New 12-Month High - Should You Buy?

Key Points

• Kraken Robotics has reached a new 52-week high of C$3.91, reflecting significant trading activity with a volume of 650,031 shares.
• Analysts have varied opinions on the stock, with one rating it as a "strong-buy" and another downgrading to "hold", while the consensus rating remains a "Buy" with an average target price of C$3.38.
• Insider activity included the sale of 261,600 shares by Senior Officer Gregory Michael Reid, indicating insider engagement with the stock's performance.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as C$3.91 and last traded at C$3.90, with a volume of 650031 shares trading hands. The stock had previously closed at C$3.75.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PNG shares. Canaccord Genuity Group lowered shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and boosted their target price for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. National Bank Financial raised Kraken Robotics to a "strong-buy" rating in a report on Wednesday, April 23rd. National Bankshares set a C$3.00 price target on Kraken Robotics and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Desjardins raised Kraken Robotics to a "moderate buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Kraken Robotics has a consensus rating of "Buy" and a consensus target price of C$3.38.

Kraken Robotics Trading Down 1.7%

The firm has a fifty day moving average of C$3.29 and a 200-day moving average of C$2.71. 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$1.02 billion, a P/E ratio of 99.22 and a beta of 1.15.

Insiders Place Their Bets

In related news, Senior Officer Gregory Michael Reid sold 261,600 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of C$2.88, for a total value of C$753,408.00. 10.13% of the stock is owned by insiders.

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.