Kraken Robotics (CVE:PNG) Hits New 1-Year Low – Time to Sell?

Kraken Robotics Inc. (CVE:PNG)’s stock price reached a new 52-week low 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.

Analyst Ratings Changes

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

Kraken Robotics Price Performance

The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. The business has a 50 day moving average price of C$5.04 and a 200-day moving average price of C$6.46. The company has a market capitalization of C$1.50 billion, a price-to-earnings ratio of -202.50 and a beta of 1.03.

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.