Kraken Robotics (CVE:PNG) Hits New 52-Week Low – Should You Sell?

Kraken Robotics Inc. (CVE:PNG)’s share price hit a new 52-week low on Friday. The stock traded as low as C$3.75 and last traded at C$3.78, with a volume of 359,707 shares changing hands. The stock had previously closed at C$3.86.

Analyst Ratings Changes

PNG has been the subject of a number of analyst reports. Royal Bank Of Canada set a C$6.00 price objective on shares of Kraken Robotics and gave the company a “moderate buy” rating in a research note on Tuesday, September 15th. Raymond James Financial dropped their price objective on Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, August 28th. Scotia boosted their price objective on Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research report on Friday, July 3rd. National Bank Financial cut their target price on shares of 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. Finally, ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$8.67.

Kraken Robotics Stock Performance

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

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.