Kraken Robotics (CVE:PNG) Shares Up 15.3% – Should You Buy?

Kraken Robotics Inc. (CVE:PNG)’s stock price rose 15.3% during trading on Wednesday . The stock traded as high as C$7.29 and last traded at C$6.95. Approximately 5,771,133 shares traded hands during trading, an increase of 404% from the average daily volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Wall Street Analyst Weigh In

A number of research analysts have commented on PNG shares. Raymond James Financial lifted their price objective on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd. Canaccord Genuity Group lowered shares of Kraken Robotics from a “strong-buy” rating to a “hold” rating and lifted their price objective for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. National Bankshares lifted their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. Desjardins lifted their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Finally, Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$4.10.

Kraken Robotics Trading Up 15.3%

The stock has a market cap of C$2.13 billion, a PE ratio of 99.29 and a beta of 1.23. The business’s fifty day moving average is C$4.45 and its 200 day moving average is C$3.38. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32.

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.