Kraken Robotics (CVE:PNG) Stock Price Down 0.7% - Here's Why

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares traded down 0.7% on Wednesday . The stock traded as low as C$2.86 and last traded at C$2.86. 343,394 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 879,015 shares. The stock had previously closed at C$2.88.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Desjardins boosted their price target on shares of 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 Bankshares set a C$3.00 price target on shares of Kraken Robotics and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, National Bank Financial upgraded shares of Kraken Robotics to a "strong-buy" rating in a research report on Wednesday, April 23rd.

Kraken Robotics Price Performance

The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32. The firm's 50 day simple moving average is C$2.49 and its 200 day simple moving average is C$2.51. The company has a market capitalization of C$753.09 million, a PE ratio of 73.29 and a beta of 1.15.

Insiders Place Their Bets

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