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

Key Points

• Kraken Robotics' share price increased by 15.3%, closing at C$6.95 after trading as high as C$7.29, with trading volume up 404% from the average.
• Several analysts have upgraded Kraken Robotics, with Desjardins and National Bankshares raising their price targets to C$5.00, indicating a generally positive outlook on the stock.
• The company's market capitalization stands at C$2.13 billion, with a PE ratio of 99.29 and an average rating of "Buy" from analysts.

Kraken Robotics Inc. (CVE:PNG - Get Free Report)'s share price was up 15.3% during trading on Wednesday . The company traded as high as C$7.29 and last traded at C$6.95. Approximately 5,771,133 shares changed hands during mid-day 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 Upgrades and Downgrades

PNG has been the topic of several recent research reports. Desjardins increased their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Raymond James Financial lifted 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. Canaccord Genuity Group downgraded 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 research note on Thursday, July 24th. National Bankshares raised their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. Finally, Scotiabank raised Kraken Robotics to a "strong-buy" rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$4.10.

Kraken Robotics Trading Up 15.3%

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 fifty day moving average is C$4.45 and its two-hundred day moving average is C$3.38. The firm has a market capitalization of C$2.13 billion, a PE ratio of 99.29 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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