Kraken Robotics (CVE:PNG) Sets New 1-Year Low - Here's What Happened

Key Points

• Kraken Robotics hit a new 52-week low, falling to C$3.75 before closing near C$3.78, down from its previous close of C$3.86.
• Analyst sentiment remains generally positive despite recent price-target cuts: five analysts rate the stock a Buy and two rate it Hold, resulting in a “Moderate Buy” consensus and an average target of C$8.67.
• The stock is trading below its 50-day and 200-day moving averages of C$4.67 and C$6.89, respectively, while the company has a C$1.43 billion market capitalization and a negative price-to-earnings ratio.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) hit a new 52-week low during mid-day trading on Friday. The company traded as low as C$3.75 and last traded at C$3.78, with a volume of 359,707 shares trading hands. The stock had previously closed at C$3.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Scotia increased their price target on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 3rd. Raymond James Financial dropped their price objective on shares of Kraken Robotics from C$11.00 to C$8.00 and set an "outperform" rating on the stock in a report on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price target on Kraken Robotics and gave the stock a "moderate buy" rating in a report on Tuesday, September 15th. Desjardins lowered their price objective on Kraken Robotics from C$13.50 to C$13.00 and set a "buy" rating on the stock in a research note on Friday, August 28th. Finally, National Bank Financial dropped their price objective on Kraken Robotics from C$10.00 to C$8.00 and set an "outperform" rating for the company in a research note on Wednesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Kraken Robotics currently has an average rating of "Moderate Buy" and a consensus target price of C$8.67.

Kraken Robotics Stock Performance

The company has a market capitalization of C$1.43 billion, a price-to-earnings ratio of -192.50 and a beta of 1.03. The stock's 50-day moving average price is C$4.67 and its 200-day moving average price is C$6.89. The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33.

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. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.

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