Kraken Robotics (CVE:PNG) Trading Up 16.7% – What’s Next?

Kraken Robotics Inc. (CVE:PNG)’s stock price shot up 16.7% on Wednesday . The stock traded as high as C$2.63 and last traded at C$2.55. 1,079,700 shares traded hands during trading, an increase of 4% from the average session volume of 1,039,761 shares. The stock had previously closed at C$2.19.

Wall Street Analysts Forecast Growth

Several research firms have commented on PNG. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd. Canaccord Genuity Group boosted their price target on Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd. Finally, Desjardins set a C$3.60 price target on shares of Kraken Robotics and gave the company a “buy” rating in a report on Wednesday, February 12th.

Kraken Robotics Stock Up 14.2 %

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$678.33 million, a price-to-earnings ratio of 66.02 and a beta of 1.15. The firm’s fifty day simple moving average is C$2.64 and its 200 day simple moving average is C$2.16.

Insider Activity at Kraken Robotics

In other Kraken Robotics news, Senior Officer David Shea purchased 11,954 shares of the business’s stock in a transaction on Friday, January 10th. The shares were purchased 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 business’s stock in a transaction on Wednesday, January 8th. The shares were acquired at an average price of C$2.46 per share, for a total transaction of C$39,999.60. 10.13% of the stock is owned by insiders.

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.