Kraken Robotics (CVE:PNG) Shares Down 0.7% - Here's What Happened

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares traded down 0.7% during trading on Wednesday . The company traded as low as C$2.86 and last traded at C$2.86. 343,394 shares traded hands during 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 analysts recently commented on PNG shares. Desjardins boosted 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's 50-day moving average price is C$2.46 and its 200 day moving average price is C$2.51. The stock has a market capitalization of C$742.22 million, a PE ratio of 72.23 and a beta of 1.15.

Insiders Place Their Bets

In other Kraken Robotics news, Senior Officer Gregory Michael Reid sold 261,600 shares of the firm's stock in a transaction that occurred 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 currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.