Kraken Robotics (CVE:PNG) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Shares of Kraken Robotics Inc. (CVE:PNG) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$2.66 and traded as low as C$2.38. Kraken Robotics shares last traded at C$2.41, with a volume of 793,726 shares.

Analyst Ratings Changes

PNG has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Kraken Robotics from C$2.00 to C$2.50 in a research report on Friday, November 22nd. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd. 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 Price Performance

The stock has a market cap of C$655.22 million, a P/E ratio of 63.77 and a beta of 1.15. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The company’s fifty day simple moving average is C$2.66 and its 200-day simple moving average is C$2.14.

Insider Buying and Selling at Kraken Robotics

In related news, Senior Officer Gregory Michael Reid purchased 16,260 shares of Kraken Robotics stock in a transaction that occurred 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. Also, Senior Officer David Shea purchased 11,954 shares of Kraken Robotics stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average price of C$2.64 per share, for a total transaction of C$31,558.56. 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.