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

Kraken Robotics Inc. (CVE:PNG) shares hit a new 52-week low during mid-day trading on Thursday. The company traded as low as C$4.02 and last traded at C$4.03, with a volume of 103,434 shares changing hands. The stock had previously closed at C$4.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Raymond James Financial reduced their target price on Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price target on shares of Kraken Robotics and gave the stock a “moderate buy” rating in a research note on Tuesday, September 15th. National Bank Financial dropped their price target on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Scotia upped their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a report on Friday, July 3rd. Finally, Desjardins cut their price target on shares of Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$9.00.

Kraken Robotics Stock Up 0.5%

The firm has a market capitalization of C$1.53 billion, a price-to-earnings ratio of -206.00 and a beta of 1.03. The stock has a 50 day moving average of C$5.12 and a 200 day moving average of C$6.50. The company has a quick ratio of 0.64, a current ratio of 1.33 and a debt-to-equity ratio of 16.99.

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.