Kraken Robotics (CVE:PNG) Trading 13.3% Higher - Time to Buy?

Key Points

• Kraken Robotics shares surged by 13.3% on Tuesday, reaching a last traded price of C$6.83 after significant trading volume increase of 355% compared to average volume.
• Analysts have mixed views on the stock, with Canaccord Genuity lowering its rating to "hold," while Scotiabank upgraded it to "strong-buy," contributing to a consensus rating of "Buy" and an average target price of C$4.10.
• The company, specializing in marine technology and underwater robotic equipment, has a market cap of C$2.10 billion and a notable debt-to-equity ratio of 34.32.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) traded up 13.3% on Tuesday . The company traded as high as C$7.29 and last traded at C$6.83. 5,199,603 shares changed hands during trading, an increase of 355% from the average session volume of 1,141,519 shares. The stock had previously closed at C$6.03.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PNG shares. Canaccord Genuity Group lowered shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and upped their price objective for the stock from C$3.50 to C$4.00 in a research note on Thursday, July 24th. National Bankshares upped 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. Scotiabank raised shares of Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th. Raymond James Financial upped 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. Finally, Desjardins upped their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Two research 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's stock. Based on data from MarketBeat.com, Kraken Robotics currently has a consensus rating of "Buy" and an average target price of C$4.10.

Kraken Robotics Trading Up 13.8%

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 stock has a market cap of C$2.10 billion, a price-to-earnings ratio of 98.00 and a beta of 1.23. The company's fifty day moving average price is C$4.39 and its 200-day moving average price is C$3.36.

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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