Kraken Robotics (CVE:PNG) Hits New 1-Year Low – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG) reached a new 52-week low on Monday . The stock traded as low as C$6.35 and last traded at C$6.34, with a volume of 1282270 shares traded. The stock had previously closed at C$6.54.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PNG shares. Desjardins upped their target price on Kraken Robotics from C$9.50 to C$14.00 and gave the stock a “buy” rating in a report on Friday, March 13th. ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and upped their target price for the stock from C$5.50 to C$6.50 in a research note on Friday, March 13th. Finally, National Bank Financial upgraded Kraken Robotics from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$8.75 to C$13.00 in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Stock Down 3.8%

The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23. The company has a market cap of C$1.93 billion, a P/E ratio of 744.00 and a beta of 0.71. The company has a fifty day moving average of C$7.56 and a 200 day moving average of C$7.81.

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.