Kraken Robotics (CVE:PNG) Reaches New 1-Year Low – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$7.00 and last traded at C$6.77, with a volume of 1474115 shares. The stock had previously closed at C$6.96.

Analyst Ratings Changes

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

Kraken Robotics Stock Performance

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 business has a 50 day moving average price of C$8.62 and a two-hundred day moving average price of C$7.44. The stock has a market cap of C$2.13 billion, a P/E ratio of 694.00 and a beta of 0.78.

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.