Kraken Robotics (CVE:PNG) Stock Price Up 15.3% - Should You Buy?

Key Points

• Kraken Robotics' stock rose by 15.3% during mid-day trading, reaching a high of C$7.29 and trading volume increased by 404% compared to its average daily volume.
• Investment analysts have rated Kraken Robotics with mainly positive outlooks, with a consensus rating of "Buy" and an average price target increase to C$4.10.
• The company, which specializes in marine technology, designs and manufactures equipment for unmanned underwater vehicles for both military and commercial applications.

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

Analyst Ratings Changes

Several analysts recently commented on the company. Canaccord Genuity Group lowered Kraken Robotics from a "strong-buy" rating to a "hold" rating and boosted their price target for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. National Bankshares boosted their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Raymond James Financial boosted their price target on Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Scotiabank raised Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Desjardins boosted their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Trading Up 15.3%

The company has a market cap of C$2.13 billion, a P/E ratio of 99.29 and a beta of 1.23. 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 business has a 50-day moving average price of C$4.45 and a two-hundred day moving average price of C$3.38.

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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