Kraken Robotics (CVE:PNG) Shares Up 7.7% – Time to Buy?

Kraken Robotics Inc. (CVE:PNG)’s stock price traded up 7.7% during mid-day trading on Monday . The stock traded as high as C$7.88 and last traded at C$7.85. 429,110 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,787,228 shares. The stock had previously closed at C$7.29.

Analyst Ratings Changes

PNG has been the subject of a number of analyst reports. National Bank Financial raised Kraken Robotics from a “hold” rating to an “outperform” rating and raised their price objective for the company from C$8.75 to C$13.00 in a research report on Friday, March 13th. Desjardins raised their price target on Kraken Robotics from C$9.50 to C$14.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, ATB Cormark Capital Markets cut Kraken Robotics from a “hold” rating to a “strong sell” rating and raised their price target for the company from C$5.50 to C$6.50 in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Kraken Robotics presently has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Stock Up 8.4%

The company has a 50 day simple moving average of C$8.21 and a two-hundred day simple moving average of C$7.49. The company has a quick ratio of 0.64, a current ratio of 5.53 and a debt-to-equity ratio of 15.94. The company has a market capitalization of C$2.43 billion, a P/E ratio of 790.00 and a beta of 0.78.

About Kraken Robotics

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.