Kraken Robotics (CVE:PNG) Hits New 52-Week High - Here's Why

Kraken Robotics Inc. (CVE:PNG - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as C$3.10 and last traded at C$3.10, with a volume of 319303 shares changing hands. The stock had previously closed at C$2.92.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Desjardins increased their price target on shares of Kraken Robotics from C$3.60 to C$4.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. National Bankshares set a C$3.00 target price on shares of Kraken Robotics and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, National Bank Financial upgraded shares of Kraken Robotics to a "strong-buy" rating in a report on Wednesday, April 23rd.

Kraken Robotics Trading Down 1.3%

The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The company has a fifty day moving average of C$2.60 and a two-hundred day moving average of C$2.53. The stock has a market capitalization of C$818.34 million, a price-to-earnings ratio of 79.64 and a beta of 1.15.

Insider Activity

In other Kraken Robotics news, Senior Officer Gregory Michael Reid sold 261,600 shares of Kraken Robotics stock in a transaction on Friday, June 13th. The stock was 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 company insiders.

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.