Kraken Robotics (CVE:PNG) Shares Up 0.3% - Time to Buy?

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) traded up 0.3% 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.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. National Bankshares set a C$3.00 price objective on shares of Kraken Robotics and gave the stock an "outperform" rating in a report on Thursday, April 24th. National Bank Financial raised shares of Kraken Robotics to a "strong-buy" rating in a report on Wednesday, April 23rd. Canaccord Genuity Group cut shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and increased their price objective for the stock from C$3.50 to C$4.00 in a report on Thursday, July 24th. Finally, Desjardins raised shares of Kraken Robotics to a "moderate buy" rating in a report on Monday, July 7th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$3.38.

Kraken Robotics Stock Up 0.3%

The business's 50-day moving average price is C$3.21 and its 200-day moving average price is C$2.69. 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 has a market capitalization of C$1.02 billion, a PE ratio of 99.22 and a beta of 1.15.

Insider Activity

In other news, Senior Officer Gregory Michael Reid sold 261,600 shares of the 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 value of C$753,408.00. 10.13% of the stock is owned by company 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.

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.