Kraken Robotics (CVE:PNG) Shares Up 7% – Still a Buy?

Kraken Robotics Inc. (CVE:PNG)’s share price traded up 7% during mid-day trading on Thursday . The stock traded as high as C$5.67 and last traded at C$5.66. 215,231 shares changed hands during trading, a decline of 82% from the average session volume of 1,227,793 shares. The stock had previously closed at C$5.29.

Wall Street Analyst Weigh In

A number of research analysts have commented on PNG shares. 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 research note on Friday, August 22nd. Raymond James Financial raised their price target on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an “outperform” rating in a report on Friday, August 22nd. National Bankshares upped their price objective on Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Scotiabank raised Kraken Robotics to a “strong-buy” rating in a research 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 issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$5.13.

Kraken Robotics Trading Up 2.9%

The firm has a market capitalization of C$1.64 billion, a price-to-earnings ratio of 76.57 and a beta of 1.07. The business’s 50 day moving average price is C$5.50 and its 200-day moving average price is C$3.95. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64.

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.