Kraken Robotics (CVE:PNG) Trading 14.2% Higher – Still a Buy?

Shares of Kraken Robotics Inc. (CVE:PNG) were up 14.2% during mid-day trading on Wednesday . The company traded as high as C$2.57 and last traded at C$2.50. Approximately 615,937 shares traded hands during trading, a decline of 40% from the average daily volume of 1,021,754 shares. The stock had previously closed at C$2.19.

Wall Street Analysts Forecast Growth

PNG has been the topic of several research analyst reports. Desjardins set a C$3.60 price objective on Kraken Robotics and gave the company a “buy” rating in a report on Wednesday, February 12th. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, January 23rd. Finally, Canaccord Genuity Group upped their price objective on shares of Kraken Robotics from C$2.00 to C$2.50 in a research report on Friday, November 22nd.

Kraken Robotics Trading Up 17.6 %

The company has a fifty day moving average of C$2.64 and a 200-day moving average of C$2.16. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The company has a market capitalization of C$698.72 million, a price-to-earnings ratio of 68.00 and a beta of 1.15.

Insider Transactions at Kraken Robotics

In other Kraken Robotics news, Senior Officer David Shea bought 11,954 shares of Kraken Robotics stock in a transaction dated Friday, January 10th. The stock was acquired at an average cost of C$2.64 per share, for a total transaction of C$31,558.56. Also, Senior Officer Gregory Michael Reid purchased 16,260 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of C$2.46 per share, for a total transaction of C$39,999.60. Corporate insiders own 10.13% of the company’s stock.

Kraken Robotics Company Profile

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.