Kraken Robotics (CVE:PNG) Stock Price Up 15.3% - Still a Buy?

Key Points

• Kraken Robotics' stock rose 15.3% recently, reaching C$6.95 after trading as high as C$7.29, with an unusual trading volume of approximately 5.77 million shares.
• Several analysts have upgraded their ratings for Kraken Robotics, with targets ranging from C$4.00 to C$5.00, resulting in a current consensus rating of "Buy" and an average price target of C$4.10.
• The company, recognized for its marine technology, has a market capitalization of C$2.13 billion and operates in various regions, including North America, Europe, and the Asia Pacific.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) rose 15.3% during trading on Tuesday . The stock traded as high as C$7.29 and last traded at C$6.95. Approximately 5,771,133 shares were traded 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PNG shares. Desjardins raised their price objective 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. National Bankshares upped their price target on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Canaccord Genuity Group lowered Kraken Robotics from a "strong-buy" rating to a "hold" rating and lifted their price objective for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Finally, Raymond James Financial upped their target price on 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. Two 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. According to data from MarketBeat.com, Kraken Robotics has a consensus rating of "Buy" and an average 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 stock has a 50-day simple moving average of C$4.39 and a two-hundred day simple moving average of C$3.36. The firm has a market cap 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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