Kraken Robotics (CVE:PNG) Reaches New 52-Week High – Time to Buy?

Kraken Robotics Inc. (CVE:PNG) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$8.01 and last traded at C$8.17, with a volume of 923649 shares changing hands. The stock had previously closed at C$7.90.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Desjardins lifted their price target on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research note on Friday, March 13th. National Bank Financial raised shares of Kraken Robotics from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$8.75 to C$13.00 in a research note on Friday, March 13th. Finally, ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and lifted their price target for the company from C$5.50 to C$6.50 in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$8.75.

Kraken Robotics Trading Down 4.9%

The company has a quick ratio of 0.64, a current ratio of 5.53 and a debt-to-equity ratio of 15.94. The firm’s 50-day moving average price is C$8.08 and its 200 day moving average price is C$7.56. The company has a market capitalization of C$2.40 billion, a P/E ratio of 780.00 and a beta of 0.78.

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.