Kraken Robotics (CVE:PNG) Hits New 12-Month High – Time to Buy?

Shares of Kraken Robotics Inc. (CVE:PNG) hit a new 52-week high on Thursday . The stock traded as high as C$7.63 and last traded at C$7.48, with a volume of 591454 shares traded. The stock had previously closed at C$7.36.

Wall Street Analyst Weigh In

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

Kraken Robotics Price Performance

The firm has a market capitalization of C$2.42 billion, a P/E ratio of 112.86 and a beta of 0.95. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The stock’s fifty day simple moving average is C$6.02 and its 200 day simple moving average is C$4.86.

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. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.