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

Kraken Robotics Inc. (CVE:PNG) shot up 14.2% on Wednesday . The company traded as high as C$2.57 and last traded at C$2.50. 615,937 shares were traded 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.

Analyst Ratings Changes

PNG has been the topic of a number of analyst reports. Desjardins set a C$3.60 price objective on Kraken Robotics and gave the company a “buy” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd. Finally, Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a research note on Thursday, January 23rd.

Kraken Robotics Trading Up 17.6 %

The company has a market cap of C$698.72 million, a PE ratio of 68.00 and a beta of 1.15. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The business has a 50 day simple moving average of C$2.64 and a two-hundred day simple moving average of C$2.16.

Insider Activity at Kraken Robotics

In related news, Senior Officer David Shea purchased 11,954 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were 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 business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average cost of C$2.46 per share, for a total transaction of C$39,999.60. Insiders own 10.13% of the company’s stock.

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.