Kraken Robotics (CVE:PNG) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$7.78 and traded as low as C$6.96. Kraken Robotics shares last traded at C$6.96, with a volume of 780,268 shares.

Wall Street Analyst Weigh In

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

Kraken Robotics Trading Down 2.2%

The firm has a fifty day simple moving average of C$7.78 and a 200-day simple moving average of C$7.74. The firm has a market cap of C$2.14 billion, a P/E ratio of 744.00 and a beta of 0.71. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.37 and a quick ratio of 0.64.

About Kraken Robotics

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.