Kraken Robotics (CVE:PNG) Trading Up 14.9% - Still a Buy?

Key Points

• Kraken Robotics shares surged by 14.9%, reaching a high of C$7.29 and closing at C$6.93, with trading volume up 374% from average levels.
• Multiple analysts have given mixed ratings on Kraken Robotics, yet the overall consensus is a "Buy" with a target price of C$4.10.
• The company, focused on marine technology, has a market capitalization of C$2.09 billion and reported a recent stock price increase of 13.3%.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares traded up 14.9% on Tuesday . The company traded as high as C$7.29 and last traded at C$6.93. 5,421,253 shares traded hands during mid-day trading, an increase of 374% from the average session volume of 1,143,398 shares. The stock had previously closed at C$6.03.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNG shares. Scotiabank upgraded shares of Kraken Robotics to a "strong-buy" rating in a research report on Thursday, August 14th. Canaccord Genuity Group downgraded shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and lifted their price target for the stock from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Desjardins increased their target price on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company a "buy" rating in a report on Friday, August 22nd. 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 note on Friday, August 22nd. Finally, National Bankshares raised their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Stock Up 13.3%

The stock has a market capitalization of C$2.09 billion, a PE ratio of 97.57 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. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32.

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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