Kraken Robotics (CVE:PNG) Sets New 12-Month Low – What’s Next?

Kraken Robotics Inc. (CVE:PNG) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$6.35 and last traded at C$6.34, with a volume of 1282270 shares changing hands. The stock had previously closed at C$6.54.

Wall Street Analysts Forecast Growth

PNG has been the topic of several recent research reports. Desjardins increased their price target on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. ATB Cormark Capital Markets lowered Kraken Robotics from a “hold” rating to a “strong sell” rating and upped their price objective for the stock from C$5.50 to C$6.50 in a research note on Friday, March 13th. Finally, National Bank Financial upgraded Kraken Robotics from a “hold” rating to an “outperform” rating and lifted their target price for the company from C$8.75 to C$13.00 in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kraken Robotics currently has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Stock Down 3.8%

The company has a market capitalization of C$1.93 billion, a PE ratio of 744.00 and a beta of 0.71. The company’s fifty day moving average is C$7.56 and its 200-day moving average is C$7.81. The company has a debt-to-equity ratio of 16.23, a quick ratio of 0.64 and a current ratio of 1.37.

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.