Kraken Robotics (CVE:PNG) Trading Up 15.3% - Should You Buy?

Key Points

• Kraken Robotics' shares surged by 15.3% during mid-day trading, reaching a peak of C$7.29 before settling at C$6.95, with trading volume up 404% compared to its average sessions.
• Multiple research firms have issued upgrades, with Desjardins and National Bankshares raising their price targets to C$5.00 and giving strong ratings, while the consensus target price is C$4.10.
• The company, with a market cap of C$2.13 billion, specializes in marine technology, designing and manufacturing underwater robotic equipment for various applications worldwide.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) shares shot up 15.3% during mid-day trading on Tuesday . The company traded as high as C$7.29 and last traded at C$6.95. 5,771,133 shares changed hands during trading, an increase of 404% from the average session volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PNG. Raymond James Financial lifted their price objective on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Canaccord Genuity Group lowered 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 lifted their price target 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. National Bankshares lifted 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 note on Thursday, September 11th. Finally, Scotiabank upgraded shares of Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th. Two investment 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Trading Up 15.3%

The stock has a market cap of C$2.13 billion, a price-to-earnings ratio of 99.29 and a beta of 1.23. The business's fifty day simple moving average is C$4.45 and its 200 day simple moving average is C$3.38. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64.

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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