Kraken Robotics (CVE:PNG) Trading 6% Higher - Still a Buy?

Key Points

• Kraken Robotics saw its share price increase by 6% on Tuesday, reaching a high of C$6.73 before closing at C$6.39, with trading volume up by 22% compared to the average session.
• Several brokerages have updated their ratings, with National Bankshares and Desjardins setting price targets of C$5.00, while Canaccord Genuity downgraded its rating to "hold" with a target of C$4.00.
• The company specializes in marine technology, including sonar and optical sensors for unmanned underwater vehicles, and holds a market cap of C$2.11 billion.

Kraken Robotics Inc. (CVE:PNG - Get Free Report)'s share price traded up 6% during trading on Tuesday . The stock traded as high as C$6.73 and last traded at C$6.39. 1,362,112 shares were traded during trading, an increase of 22% from the average session volume of 1,119,326 shares. The stock had previously closed at C$6.03.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNG. National Bankshares increased their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the stock an "outperform" rating in a report on Thursday, September 11th. Scotiabank upgraded Kraken Robotics to a "strong-buy" rating in a report on Thursday, August 14th. Canaccord Genuity Group lowered Kraken Robotics from a "strong-buy" rating to a "hold" rating and increased their price target for the stock from C$3.50 to C$4.00 in a report on Thursday, July 24th. 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. Finally, Raymond James Financial increased their price target on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd. Two equities research 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 company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of C$4.10.

Kraken Robotics Stock Up 14.1%

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 company has a market capitalization of C$2.11 billion, a PE ratio of 98.29 and a beta of 1.23. The stock has a 50-day moving average of C$4.39 and a 200 day moving average of C$3.36.

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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