Kraken Robotics (CVE:PNG) Trading Up 15.3% - Still a Buy?

Key Points

• Kraken Robotics Inc. experienced a significant increase in stock price, rising 15.3% during mid-day trading on Tuesday, reaching as high as C$7.29.
• Analysts are generally optimistic about Kraken Robotics, with multiple firms issuing target price increases and ratings, including a "strong-buy" from Scotiabank and an average target price of C$4.10.
• The company specializes in marine technology, particularly the design and manufacture of sonar and optical sensors for unmanned underwater vehicles used in both military and commercial applications.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) was 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. Approximately 5,771,133 shares changed hands during trading, an increase of 404% from the average daily volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Analysts Set New Price Targets

A number of 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. National Bankshares boosted 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 report on Thursday, September 11th. Raymond James Financial boosted their target price on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Desjardins boosted 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 report on Friday, August 22nd. Finally, Canaccord Genuity Group downgraded shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and boosted their target price for the company from C$3.50 to C$4.00 in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kraken Robotics currently has an average rating of "Buy" and an average target price of C$4.10.

Kraken Robotics Stock Up 15.3%

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 business's fifty day simple moving average is C$4.45 and its two-hundred day simple moving average is C$3.38. The company has a market cap of C$2.13 billion, a PE ratio of 99.29 and a beta of 1.23.

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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