Kraken Robotics (CVE:PNG) Reaches New 52-Week Low – Time to Sell?

Kraken Robotics Inc. (CVE:PNG)’s share price reached a new 52-week low on Monday . The stock traded as low as C$7.00 and last traded at C$6.77, with a volume of 1474115 shares trading hands. The stock had previously closed at C$6.96.

Wall Street Analyst Weigh In

PNG has been the subject of several research analyst reports. Desjardins lifted their price target on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research note on Friday, March 13th. ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and lifted their price target for the company from C$5.50 to C$6.50 in a research note on Friday, March 13th. Finally, National Bank Financial raised shares of Kraken Robotics from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$8.75 to C$13.00 in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.75.

Kraken Robotics Stock Up 3.7%

The company has a market cap of C$2.17 billion, a P/E ratio of 707.00 and a beta of 0.78. The company has a quick ratio of 0.64, a current ratio of 5.53 and a debt-to-equity ratio of 15.94. The business’s 50 day moving average is C$8.47 and its 200 day moving average is C$7.44.

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.