Kraken Robotics (CVE:PNG) Trading Up 14.2% – Time to Buy?

Kraken Robotics Inc. (CVE:PNG) shares traded up 14.2% on Wednesday . The stock traded as high as C$2.57 and last traded at C$2.50. 615,937 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,021,754 shares. The stock had previously closed at C$2.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a report on Thursday, January 23rd. Canaccord Genuity Group increased their price target on Kraken Robotics from C$2.00 to C$2.50 in a research report on Friday, November 22nd. Finally, Desjardins set a C$3.60 price objective on Kraken Robotics and gave the company a “buy” rating in a research report on Wednesday, February 12th.

Kraken Robotics Stock Performance

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 stock’s 50 day simple moving average is C$2.64 and its two-hundred day simple moving average is C$2.16. The company has a market capitalization of C$698.72 million, a P/E ratio of 68.00 and a beta of 1.15.

Insiders Place Their Bets

In other Kraken Robotics news, Senior Officer David Shea purchased 11,954 shares of the stock in a transaction dated Friday, January 10th. The stock was bought at an average price of C$2.64 per share, for a total transaction of C$31,558.56. Also, Senior Officer Gregory Michael Reid bought 16,260 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were acquired at an average price of C$2.46 per share, with a total value of C$39,999.60. Company insiders own 10.13% of the company’s stock.

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.