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

Key Points

• Kraken Robotics' stock surged 15.3% mid-day on Wednesday, trading at C$6.95 after previously closing at C$6.03.
• A variety of analysts have recently issued reports, raising target prices for the stock, with a consensus target of C$4.10 and a general rating of "Buy".
• The company, which operates in the marine technology sector, has a market capitalization of C$2.13 billion and has reported significant increases in trading volume, up 404% from the average daily volume.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PNG shares. Raymond James Financial increased 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. Canaccord Genuity Group cut shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and raised their target price for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Scotiabank raised shares of Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th. Desjardins raised 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 research note on Friday, August 22nd. Finally, National Bankshares raised their target price on shares of 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 issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Kraken Robotics presently has a consensus rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Stock Up 15.3%

The firm has a market capitalization of C$2.13 billion, a PE ratio of 99.29 and a beta of 1.23. The business's 50 day simple moving average is C$4.45 and its 200 day simple moving average is C$3.38. The company has a current ratio of 2.78, a quick ratio of 0.64 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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