Kraken Robotics (CVE:PNG) Stock Price Down 4.5% – Should You Sell?

Kraken Robotics Inc. (CVE:PNG) shares traded down 4.5% during mid-day trading on Friday . The company traded as low as C$7.37 and last traded at C$7.45. 442,970 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,766,482 shares. The stock had previously closed at C$7.80.

Analyst Ratings Changes

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

Kraken Robotics Trading Down 4.5%

The firm has a market capitalization of C$2.29 billion, a PE ratio of 745.00 and a beta of 0.78. The company has a current ratio of 5.53, a quick ratio of 0.64 and a debt-to-equity ratio of 15.94. The business has a fifty day moving average price of C$8.08 and a two-hundred day moving average price of C$7.56.

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.