Kraken Robotics (CVE:PNG) Trading Up 1.9% – Time to Buy?

Kraken Robotics Inc. (CVE:PNG) traded up 1.9% during trading on Thursday . The stock traded as high as C$5.89 and last traded at C$5.78. 550,161 shares traded hands during trading, a decline of 56% from the average session volume of 1,250,960 shares. The stock had previously closed at C$5.67.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Raymond James Financial upped their price objective on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Desjardins increased their price target on shares of Kraken Robotics from C$5.00 to C$6.50 and gave the stock a “buy” rating in a report on Tuesday, November 25th. National Bankshares raised their price objective on shares of Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Cormark cut Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$6.06.

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. The company has a market cap of C$1.77 billion, a PE ratio of 82.57 and a beta of 0.97. The business’s 50-day moving average is C$5.94 and its 200 day moving average is C$4.42.

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.