Kraken Robotics (CVE:PNG) Hits New 12-Month Low – Time to Sell?

Shares of Kraken Robotics Inc. (CVE:PNG) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as C$4.02 and last traded at C$4.03, with a volume of 103,434 shares changing hands. The stock had previously closed at C$4.44.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Raymond James Financial decreased their price objective on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating for the company in a report on Friday, August 28th. Royal Bank Of Canada set a C$6.00 target price on shares of Kraken Robotics and gave the company a “moderate buy” rating in a research note on Tuesday, September 15th. National Bank Financial dropped their target price on shares of Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Scotia raised their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 3rd. Finally, ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Kraken Robotics currently has an average rating of “Moderate Buy” and an average price target of C$9.00.

Kraken Robotics Price Performance

The company has a debt-to-equity ratio of 16.99, a current ratio of 1.33 and a quick ratio of 0.64. The company has a fifty day moving average price of C$5.12 and a 200 day moving average price of C$6.50. The company has a market capitalization of C$1.53 billion, a P/E ratio of -206.00 and a beta of 1.03.

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.