Kraken Robotics (CVE:PNG) Trading Up 15.3% – Should You Buy?

Kraken Robotics Inc. (CVE:PNG)’s share price traded up 15.3% during mid-day trading on Wednesday . The stock traded as high as C$7.29 and last traded at C$6.95. 5,771,133 shares were traded during mid-day trading, an increase of 404% from the average session volume of 1,145,659 shares. The stock had previously closed at C$6.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a report on Thursday, August 14th. Canaccord Genuity Group lowered shares of Kraken Robotics from a “strong-buy” rating to a “hold” rating and lifted their price objective for the company from C$3.50 to C$4.00 in a report on Thursday, July 24th. Raymond James Financial lifted their price objective on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. National Bankshares lifted their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company an “outperform” rating in a report on Thursday, September 11th. Finally, Desjardins lifted their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Kraken Robotics currently has an average rating of “Buy” and a consensus target price of C$4.10.

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. The firm has a market cap of C$2.13 billion, a P/E ratio of 99.29 and a beta of 1.23. The firm’s fifty day moving average price is C$4.45 and its 200 day moving average price is C$3.38.

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.