Kraken Robotics (CVE:PNG) Stock Price Up 0.7% - What's Next?

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) were up 0.7% during mid-day trading on Tuesday . The company traded as high as C$2.82 and last traded at C$2.79. Approximately 1,143,534 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 968,974 shares. The stock had previously closed at C$2.77.

Analysts Set New Price Targets

A number of research firms recently commented on PNG. Desjardins upped their price objective on Kraken Robotics from C$3.60 to C$4.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. National Bankshares set a C$3.00 price objective on Kraken Robotics and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, National Bank Financial raised Kraken Robotics to a "strong-buy" rating in a research note on Wednesday, April 23rd.

Kraken Robotics Stock Down 0.3%

The company's 50-day simple moving average is C$2.53 and its 200 day simple moving average is C$2.53. 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 market cap of C$793.87 million, a P/E ratio of 77.26 and a beta of 1.15.

Insiders Place Their Bets

In related news, Senior Officer Gregory Michael Reid sold 261,600 shares of Kraken Robotics stock in a transaction dated 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 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.