Kraken Robotics (CVE:PNG) Shares Pass Below 50-Day Moving Average – Time to Sell?

Kraken Robotics Inc. (CVE:PNG) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$2.47 and traded as low as C$2.27. Kraken Robotics shares last traded at C$2.32, with a volume of 593,879 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PNG shares. Raymond James raised Kraken Robotics to a “moderate buy” rating in a report on Thursday, January 23rd. Desjardins set a C$3.60 price objective on Kraken Robotics and gave the stock a “buy” rating in a research note on Wednesday, February 12th.

Kraken Robotics Trading Down 4.3 %

The firm has a market cap of C$603.56 million, a P/E ratio of 58.74 and a beta of 1.15. The business’s 50-day moving average is C$2.46 and its two-hundred day moving average is C$2.32. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32.

Insider Activity

In other news, Senior Officer David Shea purchased 11,954 shares of Kraken Robotics stock in a transaction dated Friday, January 10th. The stock was bought at an average price of C$2.64 per share, with a total value of C$31,558.56. Also, Senior Officer Gregory Michael Reid purchased 16,260 shares of the stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average price of C$2.46 per share, with a total value of C$39,999.60. Corporate insiders own 10.13% of the company’s stock.

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.