Kraken Robotics (CVE:PNG) Sets New 1-Year High - What's Next?

Key Points

• Kraken Robotics' stock reached a new 52-week high of C$6.63 on August 14, trading with a volume of 662,828 shares.
• Analysts have revised price targets for Kraken Robotics, with Scotiabank upgrading it to a "strong-buy" and Desjardins and National Bankshares raising their targets to C$5.00.
• The company has a market capitalization of C$2.11 billion and currently displays a consensus rating of "Buy" with a consensus target price of C$4.10.

Kraken Robotics Inc. (CVE:PNG - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$6.63 and last traded at C$6.63, with a volume of 662828 shares changing hands. The stock had previously closed at C$6.03.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Scotiabank upgraded Kraken Robotics to a "strong-buy" rating in a report on Thursday, August 14th. Desjardins lifted their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. National Bankshares lifted their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Canaccord Genuity Group downgraded Kraken Robotics from a "strong-buy" rating to a "hold" rating and lifted their price objective for the stock from C$3.50 to C$4.00 in a report on Thursday, July 24th. Finally, Raymond James Financial lifted their price objective on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Price Performance

The firm has a market capitalization of C$2.11 billion, a PE ratio of 98.29 and a beta of 1.23. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The firm has a 50-day simple moving average of C$4.39 and a 200-day simple moving average of C$3.36.

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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