Kraken Robotics (CVE:PNG) Stock Price Up 16.6% - Time to Buy?

Key Points

• Kraken Robotics Inc. saw its stock price increase by 16.6%, trading between C$7.29 and C$7.03, with a significant trading volume rise of 256% compared to its average.
• Analyst ratings show a positive outlook, with two strong buy ratings, three buy ratings, and one hold, leading to an average target price of C$4.10.
• The company specializes in marine technology and underwater robotic equipment, indicating a focus on military and commercial applications across multiple regions globally.

Kraken Robotics Inc. (CVE:PNG - Get Free Report)'s share price rose 16.6% during mid-day trading on Tuesday . The company traded as high as C$7.29 and last traded at C$7.03. Approximately 4,033,042 shares were traded during trading, an increase of 256% from the average daily volume of 1,133,519 shares. The stock had previously closed at C$6.03.

Analyst Ratings Changes

A number of research firms have commented on PNG. National Bankshares boosted 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 research report on Thursday, September 11th. 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 target on shares of 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. Canaccord Genuity Group downgraded shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from C$3.50 to C$4.00 in a report on Thursday, July 24th. Finally, Desjardins boosted their target price on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$4.10.

Kraken Robotics Price Performance

The stock's fifty day moving average price is C$4.39 and its 200-day moving average price is C$3.36. 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 has a market cap of C$2.13 billion, a price-to-earnings ratio of 99.57 and a beta of 1.23.

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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