Kraken Robotics (CVE:PNG) Trading 0.3% Higher - What's Next?

Key Points

• Shares of Kraken Robotics Inc. (CVE:PNG) rose by 0.3%, closing at C$3.75 after trading as high as C$3.82 during the session.
• Analysts have given mixed ratings, with one firm setting a price target of C$3.00 and others raising their ratings to "strong-buy" and "moderate buy", indicating a trend of growing confidence in the stock.
• In a significant insider transaction, Senior Officer Gregory Michael Reid sold 261,600 shares at an average price of C$2.88, totaling over C$753,000.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) shot up 0.3% during trading on Tuesday . The company traded as high as C$3.82 and last traded at C$3.75. 645,509 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,023,763 shares. The stock had previously closed at C$3.74.

Wall Street Analyst Weigh In

Several research firms have commented on PNG. Desjardins upgraded Kraken Robotics to a "moderate buy" rating in a research note on Monday, July 7th. National Bankshares set a C$3.00 target price on Kraken Robotics and gave the company an "outperform" rating in a research report on Thursday, April 24th. Canaccord Genuity Group cut Kraken Robotics from a "strong-buy" rating to a "hold" rating and raised their target price for the stock from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Finally, National Bank Financial raised Kraken Robotics to a "strong-buy" rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$3.38.

Kraken Robotics Price Performance

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 firm has a 50-day simple moving average of C$3.29 and a two-hundred day simple moving average of C$2.71. The company has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 100.94 and a beta of 1.15.

Insider Transactions at Kraken Robotics

In related 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 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.