Kraken Robotics (CVE:PNG) Shares Up 15.3% - What's Next?

Key Points

• Kraken Robotics' stock price surged by 15.3% to C$6.95, with trading volume increasing by 404% compared to the average session.
• Analysts have issued mixed ratings, with Canaccord Genuity downgrading the stock to a "hold," while Scotiabank upgraded it to a "strong-buy," leading to a consensus rating of "Buy" with a target price of C$4.10.
• The company has a market cap of C$2.13 billion, a PE ratio of 99.29, and specializes in marine technology, particularly in sonar and optical sensors for underwater vehicles.

Kraken Robotics Inc. (CVE:PNG - Get Free Report)'s stock price shot up 15.3% during mid-day trading on Tuesday . The stock traded as high as C$7.29 and last traded at C$6.95. 5,771,133 shares were traded during trading, an increase of 404% from the average session volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Analysts Set New Price Targets

Several research firms have issued reports on PNG. Canaccord Genuity Group downgraded Kraken Robotics from a "strong-buy" rating to a "hold" rating and increased their target price for the stock from C$3.50 to C$4.00 in a research report on Thursday, July 24th. Scotiabank upgraded Kraken Robotics to a "strong-buy" rating in a research report on Thursday, August 14th. Desjardins increased their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. National Bankshares increased their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Finally, Raymond James Financial increased their price objective on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$4.10.

Kraken Robotics Stock Up 15.3%

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 company has a market cap of C$2.13 billion, a PE ratio of 99.29 and a beta of 1.23. The stock has a 50-day moving average of C$4.45 and a 200-day moving average of C$3.38.

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.

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