Kraken Robotics (CVE:PNG) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$2.53 and traded as low as C$2.37. Kraken Robotics shares last traded at C$2.42, with a volume of 602,664 shares traded.

Analyst Ratings Changes

PNG has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on shares of Kraken Robotics from C$2.00 to C$2.50 in a research report on Friday, November 22nd. Desjardins set a C$3.60 price objective on shares of Kraken Robotics and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Raymond James raised Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd.

Kraken Robotics Stock Performance

The firm’s fifty day moving average is C$2.53 and its 200 day moving average is C$2.24. The firm has a market capitalization of C$693.28 million, a price-to-earnings ratio of 67.47 and a beta of 1.15. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64.

Insider Buying and Selling at Kraken Robotics

In related news, Senior Officer David Shea bought 11,954 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was bought at an average price of C$2.64 per share, with a total value of C$31,558.56. Also, Senior Officer Gregory Michael Reid bought 16,260 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were bought at an average cost of C$2.46 per share, with a total value of C$39,999.60. Company insiders own 10.13% of the company’s stock.

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.