Kraken Robotics (CVE:PNG) Reaches New 1-Year High - Here's Why

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

Analyst Upgrades and Downgrades

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

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 company has a market cap of C$830.58 million, a price-to-earnings ratio of 80.83 and a beta of 1.15. The firm's 50-day moving average price is C$2.54 and its 200 day moving average price is C$2.52.

Insider Activity at Kraken Robotics

In related news, Senior Officer Gregory Michael Reid sold 261,600 shares of the company's stock in a transaction on 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 currently owned by corporate 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.

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