Kraken Robotics (CVE:PNG) Trading Up 16.7% – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG) shares traded up 16.7% on Wednesday . The stock traded as high as C$2.63 and last traded at C$2.55. 1,079,700 shares were traded during trading, an increase of 4% from the average session volume of 1,039,761 shares. The stock had previously closed at C$2.19.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PNG. Raymond James upgraded shares of Kraken Robotics to a “moderate buy” rating in a report on Thursday, January 23rd. Canaccord Genuity Group upped their target price on Kraken Robotics from C$2.00 to C$2.50 in a report on Friday, November 22nd. Finally, Desjardins set a C$3.60 price target on shares of Kraken Robotics and gave the stock a “buy” rating in a research note on Wednesday, February 12th.

Kraken Robotics Stock Up 14.2 %

The business has a 50-day moving average of C$2.64 and a 200 day moving average of C$2.16. 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 market capitalization of C$678.33 million, a PE ratio of 66.02 and a beta of 1.15.

Insider Activity at Kraken Robotics

In other news, Senior Officer David Shea bought 11,954 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of C$2.64 per share, with a total value of C$31,558.56. Also, Senior Officer Gregory Michael Reid purchased 16,260 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average cost of C$2.46 per share, with a total value of C$39,999.60. 10.13% of the stock is currently owned by corporate insiders.

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.