Kraken Robotics (CVE:PNG) Sets New 52-Week High – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG) shares hit a new 52-week high on Monday . The stock traded as high as C$9.23 and last traded at C$9.22, with a volume of 1409293 shares. The stock had previously closed at C$8.50.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Cormark cut shares of Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. National Bank Financial cut Kraken Robotics from an “outperform” rating to a “hold” rating and increased their price objective for the company from C$7.50 to C$8.75 in a research note on Wednesday, January 14th. Raymond James Financial boosted their target price on Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, Desjardins upped their price target on Kraken Robotics from C$6.50 to C$9.50 and gave the stock a “buy” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Kraken Robotics currently has a consensus rating of “Moderate Buy” and an average target price of C$7.13.

Kraken Robotics Trading Down 2.2%

The company has a debt-to-equity ratio of 16.12, a quick ratio of 0.64 and a current ratio of 7.30. The company’s 50-day moving average price is C$7.81 and its 200-day moving average price is C$6.11. The firm has a market capitalization of C$2.80 billion, a PE ratio of 130.71 and a beta of 1.11.

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.