Kraken Robotics (CVE:PNG) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.28 and traded as high as C$2.70. Kraken Robotics shares last traded at C$2.51, with a volume of 501,724 shares traded.

Analyst Upgrades and Downgrades

PNG has been the topic of a number of analyst reports. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, January 23rd. Desjardins set a C$3.60 price target on Kraken Robotics and gave the company a “buy” rating in a research note on Wednesday, February 12th.

Kraken Robotics Price Performance

The stock has a market capitalization of C$681.04 million, a P/E ratio of 66.28 and a beta of 1.15. The company’s 50 day simple moving average is C$2.52 and its two-hundred day simple moving average is C$2.28. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64.

Insider Buying and Selling

In related news, Senior Officer Gregory Michael Reid purchased 16,260 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average cost of C$2.46 per share, with a total value of C$39,999.60. Also, Senior Officer David Shea acquired 11,954 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was purchased at an average price of C$2.64 per share, for a total transaction of C$31,558.56. 10.13% of the stock is owned by corporate insiders.

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.