Kraken Robotics (CVE:PNG) Trading 16.7% Higher – Should You Buy?

Kraken Robotics Inc. (CVE:PNG) shares rose 16.7% on Wednesday . The company traded as high as C$2.63 and last traded at C$2.55. Approximately 1,079,700 shares were traded during trading, an increase of 4% from the average daily volume of 1,039,761 shares. The stock had previously closed at C$2.19.

Analyst Ratings Changes

Several research analysts recently weighed in on PNG shares. Desjardins set a C$3.60 target price on Kraken Robotics and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd. Finally, Raymond James upgraded Kraken Robotics to a “moderate buy” rating in a research note on Thursday, January 23rd.

Kraken Robotics Stock Up 14.2 %

The stock’s fifty day simple moving average is C$2.64 and its 200-day simple moving average is C$2.16. The stock has a market cap of C$678.33 million, a P/E ratio of 66.02 and a beta of 1.15. 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 other news, Senior Officer Gregory Michael Reid bought 16,260 shares of the stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of C$2.46 per share, with a total value of C$39,999.60. Also, Senior Officer David Shea purchased 11,954 shares of the company’s stock in a transaction on Friday, January 10th. The stock was purchased at an average cost of C$2.64 per share, for a total transaction of C$31,558.56. Company 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.