Kraken Robotics (CVE:PNG) Shares Up 6.2% – What’s Next?

Kraken Robotics Inc. (CVE:PNG)’s stock price shot up 6.2% on Thursday . The stock traded as high as C$5.66 and last traded at C$5.62. 170,079 shares changed hands during trading, a decline of 86% from the average session volume of 1,227,742 shares. The stock had previously closed at C$5.29.

Wall Street Analysts Forecast Growth

PNG has been the subject of a number of research reports. National Bankshares raised their price objective on shares of Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Desjardins lifted their price target on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Raymond James Financial boosted their price objective on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the stock an “outperform” rating in a research note on Friday, August 22nd. Finally, Scotiabank raised Kraken Robotics to a “strong-buy” rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$5.13.

Kraken Robotics Stock Performance

The stock has a fifty day simple moving average of C$5.50 and a two-hundred day simple moving average of C$3.95. 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 stock has a market capitalization of C$1.64 billion, a price-to-earnings ratio of 76.57 and a beta of 1.07.

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.