Kraken Robotics (CVE:PNG) Stock Price Up 14.1% - Still a Buy?

Key Points

• Kraken Robotics Inc. saw its stock price increase by 14.1% to C$6.88, with trading volume significantly higher than average, indicating strong investor interest.
• Recent analyst ratings show a consensus of Buy for Kraken Robotics, with price targets increased by various firms, highlighting positive sentiment about the company's future performance.
• The company has a market cap of C$2.11 billion and engages in the design and sale of underwater technology for both military and commercial applications globally.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) rose 14.1% during mid-day trading on Tuesday . The stock traded as high as C$7.00 and last traded at C$6.88. Approximately 2,578,374 shares were traded during trading, an increase of 129% from the average daily volume of 1,125,382 shares. The stock had previously closed at C$6.03.

Analyst Ratings Changes

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

Kraken Robotics Price Performance

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's 50 day moving average is C$4.39 and its 200 day moving average is C$3.36. The firm has a market cap of C$2.11 billion, a P/E ratio of 98.57 and a beta of 1.23.

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.

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