Kraken Robotics (CVE:PNG) Sets New 52-Week High – Should You Buy?

Kraken Robotics Inc. (CVE:PNG)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$9.65 and last traded at C$9.58, with a volume of 1099805 shares changing hands. The stock had previously closed at C$9.17.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James Financial boosted their target price on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Desjardins lifted their price objective on Kraken Robotics from C$6.50 to C$9.50 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. National Bank Financial cut Kraken Robotics from an “outperform” rating to a “hold” rating and boosted their price objective for the stock from C$7.50 to C$8.75 in a research report on Wednesday, January 14th. Finally, Cormark lowered Kraken Robotics from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kraken Robotics currently has an average rating of “Moderate Buy” and an average target price of C$7.13.

Kraken Robotics Trading Down 2.6%

The company has a quick ratio of 0.64, a current ratio of 7.30 and a debt-to-equity ratio of 16.12. The firm has a market capitalization of C$3.05 billion, a price-to-earnings ratio of 142.29 and a beta of 0.72. The business has a 50-day moving average of C$8.16 and a two-hundred day moving average of C$6.34.

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. 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.