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

Kraken Robotics Inc. (CVE:PNG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$9.23 and last traded at C$9.22, with a volume of 1409293 shares. The stock had previously closed at C$8.50.

Wall Street Analyst Weigh In

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

Kraken Robotics Stock Up 8.8%

The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The company has a fifty day moving average price of C$7.68 and a 200 day moving average price of C$6.04. The company has a market cap of C$2.84 billion, a PE ratio of 132.14 and a beta of 1.11.

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.